Ritchie Bros. Auctioneers (NYSE:RBA) Rating Lowered to Sector Perform at Scotiabank


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Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) was downgraded by research analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a report released on Tuesday, AnalystRatings.net reports.

RBA has been the topic of several other reports. National Bank Financial raised shares of Ritchie Bros. Auctioneers from an “underperform” rating to a “sector perform” rating and set a $68.50 price objective on the stock in a research report on Friday, January 8th. Raymond James set a $75.00 price objective on shares of Ritchie Bros. Auctioneers and gave the company a “market perform” rating in a research report on Tuesday, December 8th. TD Securities boosted their price objective on shares of Ritchie Bros. Auctioneers from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Friday, October 16th. BidaskClub raised shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a research report on Friday, December 25th. Finally, Bank of America cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “neutral” rating in a research report on Monday, January 4th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $60.00.

Shares of NYSE RBA opened at $63.31 on Tuesday. The company’s fifty day moving average is $69.26 and its 200-day moving average is $59.74. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 45.22, a P/E/G ratio of 5.90 and a beta of 1.08. Ritchie Bros. Auctioneers has a twelve month low of $25.92 and a twelve month high of $78.64. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.68.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 5th. The business services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.14. The company had revenue of $331.54 million for the quarter, compared to analysts’ expectations of $305.71 million. Ritchie Bros. Auctioneers had a net margin of 11.89% and a return on equity of 17.77%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. On average, research analysts anticipate that Ritchie Bros. Auctioneers will post 1.51 EPS for the current fiscal year.

In other news, Director Christopher Zimmerman sold 6,126 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $68.18, for a total value of $417,670.68. Following the sale, the director now directly owns 730 shares of the company’s stock, valued at approximately $49,771.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Matthew Ackley sold 2,000 shares of the firm’s stock in a transaction dated Friday, December 11th. The shares were sold at an average price of $71.71, for a total transaction of $143,420.00. Following the completion of the sale, the chief marketing officer now owns 14,072 shares of the company’s stock, valued at $1,009,103.12. The disclosure for this sale can be found here. Insiders sold a total of 12,821 shares of company stock worth $892,064 over the last quarter. Company insiders own 0.83% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Ritchie Bros. Auctioneers by 57.1% during the 3rd quarter. Signaturefd LLC now owns 429 shares of the business services provider’s stock worth $25,000 after purchasing an additional 156 shares during the last quarter. Paces Ferry Wealth Advisors LLC acquired a new stake in Ritchie Bros. Auctioneers during the 3rd quarter worth approximately $85,000. Two Sigma Securities LLC acquired a new stake in Ritchie Bros. Auctioneers during the 3rd quarter worth approximately $212,000. Venturi Wealth Management LLC bought a new position in Ritchie Bros. Auctioneers during the 3rd quarter worth $214,000. Finally, Hardy Reed LLC bought a new position in Ritchie Bros. Auctioneers during the 3rd quarter worth $222,000. 84.43% of the stock is owned by institutional investors.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site 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, as well as construction and heavy machinery.

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

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