Ritchie Bros. Auctioneers (NYSE:RBA) Given New $60.00 Price Target at Raymond James

Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) had its target price upped by Raymond James from $55.00 to $60.00 in a report issued on Tuesday, The Fly reports. Raymond James currently has a market perform rating on the business services provider’s stock.

Several other brokerages have also recently issued reports on RBA. Barrington Research raised shares of Ritchie Bros. Auctioneers from a market perform rating to an outperform rating in a research note on Monday, November 7th. National Bankshares raised shares of Ritchie Bros. Auctioneers from an underperform rating to a sector perform rating and lowered their target price for the stock from $60.00 to $55.00 in a research note on Tuesday, November 8th. Northcoast Research raised shares of Ritchie Bros. Auctioneers from a neutral rating to a buy rating and set a $65.00 target price on the stock in a research note on Monday, November 14th. Scotiabank raised shares of Ritchie Bros. Auctioneers from a sector perform rating to an outperform rating and lifted their target price for the stock from $59.00 to $65.00 in a research note on Monday, December 5th. Finally, Robert W. Baird lifted their target price on shares of Ritchie Bros. Auctioneers from $62.00 to $66.00 and gave the stock an outperform rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $60.78.

Ritchie Bros. Auctioneers Price Performance

Ritchie Bros. Auctioneers stock opened at $58.74 on Tuesday. The company’s fifty day moving average price is $56.74 and its 200 day moving average price is $62.51. Ritchie Bros. Auctioneers has a 1 year low of $48.65 and a 1 year high of $72.73. The stock has a market capitalization of $6.52 billion, a P/E ratio of 21.52, a P/E/G ratio of 3.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.27.

Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) last released its quarterly earnings results on Monday, November 7th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.08. Ritchie Bros. Auctioneers had a net margin of 18.49% and a return on equity of 25.52%. The firm had revenue of $411.50 million for the quarter, compared to analysts’ expectations of $366.23 million. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Ritchie Bros. Auctioneers will post 1.76 earnings per share for the current fiscal year.

Ritchie Bros. Auctioneers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 3rd. Stockholders of record on Friday, February 10th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, February 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.84%. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 39.56%.

Institutional Trading of Ritchie Bros. Auctioneers

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in Ritchie Bros. Auctioneers by 19.2% in the 1st quarter. Invesco Ltd. now owns 4,652,139 shares of the business services provider’s stock valued at $274,617,000 after buying an additional 747,804 shares during the period. Riverbridge Partners LLC raised its holdings in Ritchie Bros. Auctioneers by 3.9% in the 3rd quarter. Riverbridge Partners LLC now owns 4,196,343 shares of the business services provider’s stock valued at $262,188,000 after buying an additional 158,956 shares during the period. Vanguard Group Inc. raised its holdings in Ritchie Bros. Auctioneers by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,904,134 shares of the business services provider’s stock valued at $243,932,000 after buying an additional 132,767 shares during the period. Baillie Gifford & Co. raised its holdings in Ritchie Bros. Auctioneers by 0.6% in the 3rd quarter. Baillie Gifford & Co. now owns 2,765,869 shares of the business services provider’s stock valued at $173,206,000 after buying an additional 16,455 shares during the period. Finally, Jarislowsky Fraser Ltd raised its holdings in Ritchie Bros. Auctioneers by 27.6% in the 2nd quarter. Jarislowsky Fraser Ltd now owns 2,680,267 shares of the business services provider’s stock valued at $174,016,000 after buying an additional 579,763 shares during the period. 81.09% of the stock is currently owned by hedge funds and other institutional investors.

Ritchie Bros. Auctioneers Company Profile

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Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.