Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) had its price objective upped by Macquarie from $39.50 to $44.00 in a research report sent to investors on Tuesday. The brokerage currently has a buy rating on the business services provider’s stock.

RBA has been the subject of a number of other reports. ValuEngine raised Ritchie Bros. Auctioneers from a hold rating to a buy rating in a research note on Thursday, June 21st. National Bank Financial increased their target price on Ritchie Bros. Auctioneers from $35.00 to $39.00 and gave the stock a sector perform rating in a research note on Monday, August 13th. Howard Weil downgraded Ritchie Bros. Auctioneers from an outperform rating to a sector perform rating in a research report on Wednesday, June 27th. Royal Bank of Canada upped their price target on Ritchie Bros. Auctioneers from $33.00 to $34.00 and gave the stock a sector perform rating in a research report on Monday, May 14th. Finally, TD Securities upped their price target on Ritchie Bros. Auctioneers from $25.00 to $26.00 and gave the stock a reduce rating in a research report on Monday, May 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $36.33.

NYSE RBA opened at $37.89 on Tuesday. Ritchie Bros. Auctioneers has a 52-week low of $24.08 and a 52-week high of $38.77. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.26 and a quick ratio of 1.13. The company has a market cap of $4.10 billion, a P/E ratio of 46.78, a price-to-earnings-growth ratio of 2.65 and a beta of 0.71.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, August 9th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Ritchie Bros. Auctioneers had a return on equity of 13.42% and a net margin of 12.36%. The business had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $225.52 million. During the same period in the prior year, the business earned $0.33 EPS. Ritchie Bros. Auctioneers’s revenue for the quarter was up 24.4% compared to the same quarter last year. sell-side analysts expect that Ritchie Bros. Auctioneers will post 1.1 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, August 29th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, August 28th. This represents a $0.72 dividend on an annualized basis and a yield of 1.90%. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.17. Ritchie Bros. Auctioneers’s dividend payout ratio is 88.89%.

In other Ritchie Bros. Auctioneers news, SVP Kieran Colquhoun Holm sold 13,240 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $38.24, for a total transaction of $506,297.60. Following the completion of the transaction, the senior vice president now owns 11,278 shares of the company’s stock, valued at approximately $431,270.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Summit Trail Advisors LLC boosted its holdings in shares of Ritchie Bros. Auctioneers by 2,814.2% in the 1st quarter. Summit Trail Advisors LLC now owns 125,514 shares of the business services provider’s stock valued at $126,000 after buying an additional 121,207 shares during the last quarter. Cutler Group LP boosted its holdings in shares of Ritchie Bros. Auctioneers by 125.6% in the 2nd quarter. Cutler Group LP now owns 4,688 shares of the business services provider’s stock valued at $159,000 after buying an additional 22,971 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Ritchie Bros. Auctioneers in the 2nd quarter valued at approximately $207,000. We Are One Seven LLC boosted its holdings in shares of Ritchie Bros. Auctioneers by 533.7% in the 1st quarter. We Are One Seven LLC now owns 6,628 shares of the business services provider’s stock valued at $209,000 after buying an additional 5,582 shares during the last quarter. Finally, Atria Investments LLC acquired a new stake in shares of Ritchie Bros. Auctioneers in the 1st quarter valued at approximately $244,000. 96.96% of the stock is owned by hedge funds and other institutional investors.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

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Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

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