Ritchie Bros. Auctioneers (RBA) Cut to “Hold” at ValuEngine

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Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other research analysts have also recently issued reports on RBA. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. Royal Bank of Canada increased their price target on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Monday, August 13th. TD Securities increased their price target on Ritchie Bros. Auctioneers from $26.00 to $28.00 and gave the stock a “reduce” rating in a research note on Monday, August 13th. Barrington Research reissued a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Monday, August 13th. Finally, National Bank Financial increased their price target 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. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.00.

Shares of NYSE:RBA traded down $0.10 on Thursday, hitting $33.28. The company’s stock had a trading volume of 474,300 shares, compared to its average volume of 450,316. Ritchie Bros. Auctioneers has a 12 month low of $26.94 and a 12 month high of $38.77. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 2.30 and a beta of 0.77. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.12 and a current ratio of 1.28.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, November 8th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Ritchie Bros. Auctioneers had a return on equity of 14.15% and a net margin of 12.36%. The company had revenue of $159.30 million during the quarter, compared to analysts’ expectations of $163.59 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Ritchie Bros. Auctioneers will post 1.11 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. bought a new position in Ritchie Bros. Auctioneers during the third quarter valued at about $288,000. Vanguard Group Inc. boosted its stake in Ritchie Bros. Auctioneers by 6.9% during the third quarter. Vanguard Group Inc. now owns 2,686,036 shares of the business services provider’s stock valued at $97,046,000 after buying an additional 174,262 shares in the last quarter. Standard Life Aberdeen plc boosted its stake in Ritchie Bros. Auctioneers by 2.6% during the third quarter. Standard Life Aberdeen plc now owns 2,373,542 shares of the business services provider’s stock valued at $85,757,000 after buying an additional 59,076 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Ritchie Bros. Auctioneers during the third quarter valued at about $611,000. Finally, Equitable Trust Co. bought a new position in Ritchie Bros. Auctioneers during the third quarter valued at about $217,000. 91.10% of the stock is owned by institutional investors and hedge funds.

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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