Ritchie Bros. Auctioneers (NYSE:RBA) Sees Large Volume Increase

Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) shares saw unusually-strong trading volume on Wednesday . Approximately 22,159 shares traded hands during trading, a decline of 92% from the previous session’s volume of 281,571 shares.The stock last traded at $69.03 and had previously closed at $69.22.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RBA shares. TD Securities increased their target price on shares of Ritchie Bros. Auctioneers from $55.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, May 12th. Bank of America upgraded shares of Ritchie Bros. Auctioneers from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, July 14th. StockNews.com upgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a report on Saturday, August 13th. Royal Bank of Canada increased their target price on shares of Ritchie Bros. Auctioneers from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, May 12th. Finally, Raymond James raised their price objective on shares of Ritchie Bros. Auctioneers from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Monday, August 8th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ritchie Bros. Auctioneers has an average rating of “Hold” and an average target price of $64.00.

Ritchie Bros. Auctioneers Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.26 and a quick ratio of 1.10. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 5.85 and a beta of 1.01. The company’s 50 day moving average is $69.05 and its 200 day moving average is $61.96.

Ritchie Bros. Auctioneers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Shareholders of record on Wednesday, August 24th will be paid a dividend of $0.27 per share. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, August 23rd. Ritchie Bros. Auctioneers’s payout ratio is currently 40.91%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ieq Capital LLC raised its holdings in Ritchie Bros. Auctioneers by 119.7% in the first quarter. Ieq Capital LLC now owns 17,572 shares of the business services provider’s stock valued at $1,037,000 after acquiring an additional 9,572 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Ritchie Bros. Auctioneers by 2.7% during the fourth quarter. HighTower Advisors LLC now owns 20,391 shares of the business services provider’s stock worth $1,243,000 after acquiring an additional 527 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ritchie Bros. Auctioneers by 22.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,897,359 shares of the business services provider’s stock valued at $112,001,000 after buying an additional 352,776 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its position in Ritchie Bros. Auctioneers by 3.8% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 17,668 shares of the business services provider’s stock valued at $1,043,000 after buying an additional 643 shares in the last quarter. Finally, BNP Paribas Arbitrage SA bought a new position in Ritchie Bros. Auctioneers in the 4th quarter valued at about $639,000. 82.52% of the stock is currently owned by hedge funds and other institutional investors.

About Ritchie Bros. Auctioneers

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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. It sells a range of used and unused commercial assets, including earthmoving equipment, truck tractors and trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.

Further Reading

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