Ritchie Bros. Auctioneers (NYSE:RBA) Reaches New 1-Year High at $44.21

Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $44.21 and last traded at $44.17, with a volume of 5871 shares changing hands. The stock had previously closed at $43.41.

RBA has been the topic of several recent analyst reports. Robert W. Baird upped their price objective on shares of Ritchie Bros. Auctioneers from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. TD Securities lifted their target price on shares of Ritchie Bros. Auctioneers from $30.00 to $31.00 and gave the stock a “reduce” rating in a research note on Monday, November 11th. Raymond James set a $43.50 price target on Ritchie Bros. Auctioneers and gave the company a “market perform” rating in a report on Monday, November 11th. National Bank Financial lowered Ritchie Bros. Auctioneers from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from $35.50 to $35.00 in a research note on Friday, November 8th. Finally, Royal Bank of Canada increased their price target on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Ritchie Bros. Auctioneers has a consensus rating of “Hold” and a consensus price target of $37.38.

The firm has a market capitalization of $4.65 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 4.86 and a beta of 0.68. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.15 and a current ratio of 1.23. The company’s fifty day moving average price is $41.39 and its two-hundred day moving average price is $37.69.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, November 7th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $289.80 million during the quarter, compared to the consensus estimate of $289.55 million. Ritchie Bros. Auctioneers had a net margin of 9.90% and a return on equity of 15.88%. Ritchie Bros. Auctioneers’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share. On average, equities analysts expect that Ritchie Bros. Auctioneers Inc will post 1.26 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.83%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 74.07%.

In other news, insider Todd Donald Wohler sold 2,428 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $39.80, for a total transaction of $96,634.40. Following the completion of the sale, the insider now directly owns 9,491 shares of the company’s stock, valued at approximately $377,741.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its holdings in shares of Ritchie Bros. Auctioneers by 0.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,975,914 shares of the business services provider’s stock valued at $364,827,000 after acquiring an additional 59,501 shares in the last quarter. Grandeur Peak Global Advisors LLC lifted its stake in shares of Ritchie Bros. Auctioneers by 5.8% during the second quarter. Grandeur Peak Global Advisors LLC now owns 646,076 shares of the business services provider’s stock worth $21,463,000 after purchasing an additional 35,250 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ritchie Bros. Auctioneers by 51.5% during the second quarter. JPMorgan Chase & Co. now owns 283,228 shares of the business services provider’s stock worth $9,417,000 after purchasing an additional 96,251 shares in the last quarter. Mondrian Investment Partners LTD boosted its position in shares of Ritchie Bros. Auctioneers by 18.6% in the third quarter. Mondrian Investment Partners LTD now owns 1,660,039 shares of the business services provider’s stock worth $87,667,000 after buying an additional 259,917 shares during the period. Finally, Granite Investment Partners LLC boosted its position in shares of Ritchie Bros. Auctioneers by 166.0% in the second quarter. Granite Investment Partners LLC now owns 71,832 shares of the business services provider’s stock worth $2,386,000 after buying an additional 44,828 shares during the period. Institutional investors own 89.36% of the company’s stock.

Ritchie Bros. Auctioneers Company Profile (NYSE:RBA)

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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