Ritchie Bros. Auctioneers (TSE:RBA) Lifted to Outperform at Raymond James

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Raymond James upgraded shares of Ritchie Bros. Auctioneers (TSE:RBA) (NYSE:RBA) from a market perform rating to an outperform rating in a report issued on Tuesday, BayStreet.CA reports. They currently have C$33.00 price objective on the stock, down from their prior price objective of C$41.00.

Other equities analysts have also recently issued reports about the stock. Scotiabank upgraded shares of Ritchie Bros. Auctioneers from a sector perform rating to a sector outperform rating in a report on Monday, March 2nd. William Blair reiterated an outperform rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, February 27th. Barrington Research reiterated a market perform rating on shares of Ritchie Bros. Auctioneers in a report on Wednesday, March 11th. Finally, National Bank Financial upgraded shares of Ritchie Bros. Auctioneers from an underperform underweight rating to a sector perform market weight rating in a report on Sunday, March 15th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of C$33.00.

Ritchie Bros. Auctioneers stock opened at C$46.59 on Tuesday. The company’s fifty day simple moving average is C$52.38 and its 200-day simple moving average is C$54.23. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 87.80. Ritchie Bros. Auctioneers has a 12 month low of C$37.76 and a 12 month high of C$58.94. The stock has a market cap of $4.48 billion and a P/E ratio of 34.26.

Ritchie Bros. Auctioneers (TSE:RBA) (NYSE:RBA) last posted its quarterly earnings results on Thursday, February 27th. The company reported C$0.58 EPS for the quarter, beating the consensus estimate of C$0.53 by C$0.05. The company had revenue of C$438.46 million for the quarter, compared to analysts’ expectations of C$486.63 million. On average, equities research analysts expect that Ritchie Bros. Auctioneers will post 1.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, February 13th. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 55.88%.

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.

Read More: How to calculate the intrinsic value of a stock

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