Ritchie Bros. Auctioneers Inc (RBA) Given Average Recommendation of “Hold” by Brokerages

Shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) have been given an average recommendation of “Hold” by the twelve ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $36.50.

Several research firms have commented on RBA. ValuEngine cut Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Raymond James dropped their price objective on Ritchie Bros. Auctioneers from $38.00 to $34.50 and set a “market perform” rating on the stock in a research note on Monday, March 4th. TD Securities upped their price objective on Ritchie Bros. Auctioneers from $28.00 to $30.00 and gave the stock a “reduce” rating in a research note on Tuesday, March 5th. Finally, Royal Bank of Canada dropped their price objective on Ritchie Bros. Auctioneers from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Monday, March 4th.

Institutional investors have recently made changes to their positions in the company. We Are One Seven LLC raised its stake in Ritchie Bros. Auctioneers by 90.8% in the 1st quarter. We Are One Seven LLC now owns 11,444 shares of the business services provider’s stock valued at $389,000 after acquiring an additional 5,446 shares during the period. Deutsche Bank AG raised its stake in Ritchie Bros. Auctioneers by 23.6% in the 4th quarter. Deutsche Bank AG now owns 39,402 shares of the business services provider’s stock valued at $1,289,000 after acquiring an additional 7,533 shares during the period. Geode Capital Management LLC raised its stake in Ritchie Bros. Auctioneers by 54.4% in the 4th quarter. Geode Capital Management LLC now owns 10,419 shares of the business services provider’s stock valued at $340,000 after acquiring an additional 3,673 shares during the period. Norges Bank bought a new stake in Ritchie Bros. Auctioneers in the 4th quarter valued at $45,133,000. Finally, Dimensional Fund Advisors LP raised its stake in Ritchie Bros. Auctioneers by 35.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 43,418 shares of the business services provider’s stock valued at $1,421,000 after acquiring an additional 11,467 shares during the period. Institutional investors own 92.74% of the company’s stock.

NYSE RBA opened at $33.73 on Friday. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.05 and a beta of 0.80. The company has a current ratio of 1.37, a quick ratio of 1.11 and a debt-to-equity ratio of 0.84. Ritchie Bros. Auctioneers has a 52 week low of $30.76 and a 52 week high of $38.77.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, February 28th. The business services provider reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.04). The firm had revenue of $355.97 million during the quarter, compared to the consensus estimate of $308.52 million. Ritchie Bros. Auctioneers had a net margin of 10.38% and a return on equity of 14.68%. As a group, equities analysts expect that Ritchie Bros. Auctioneers will post 1.27 EPS for the current year.

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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