Ritchie Bros. Auctioneers (NYSE:RBA) Price Target Raised to $66.00 at Robert W. Baird

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) had its price objective raised by Robert W. Baird from $62.00 to $66.00 in a research note released on Tuesday morning, The Fly reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

A number of other equities research analysts have also weighed in on RBA. Bank of America lowered shares of Ritchie Bros. Auctioneers from a buy rating to a neutral rating and cut their target price for the company from $74.00 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. Raymond James cut their target price on shares of Ritchie Bros. Auctioneers from $62.00 to $55.00 and set a market perform rating on the stock in a research note on Tuesday, November 8th. National Bank Financial raised shares of Ritchie Bros. Auctioneers from an underperform rating to a sector perform rating in a research note on Monday, November 7th. Finally, Scotiabank raised shares of Ritchie Bros. Auctioneers from a sector perform rating to an outperform rating and lifted their target price for the company from $59.00 to $65.00 in a research note on Monday, December 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $60.78.

Ritchie Bros. Auctioneers Price Performance

Shares of Ritchie Bros. Auctioneers stock opened at $58.74 on Tuesday. The firm has a market cap of $6.52 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 3.90 and a beta of 0.92. Ritchie Bros. Auctioneers has a 12-month low of $48.65 and a 12-month high of $72.73. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $56.74 and its two-hundred day simple moving average is $62.51.

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

Ritchie Bros. Auctioneers Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RBA. HighTower Advisors LLC raised its holdings in shares of Ritchie Bros. Auctioneers by 6.4% during the first quarter. HighTower Advisors LLC now owns 21,697 shares of the business services provider’s stock valued at $1,275,000 after purchasing an additional 1,306 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Ritchie Bros. Auctioneers by 26.0% during the first quarter. Citigroup Inc. now owns 34,995 shares of the business services provider’s stock valued at $2,069,000 after purchasing an additional 7,218 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Ritchie Bros. Auctioneers by 11.1% during the first quarter. PNC Financial Services Group Inc. now owns 19,188 shares of the business services provider’s stock valued at $1,131,000 after purchasing an additional 1,914 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Ritchie Bros. Auctioneers by 1.6% during the first quarter. Great West Life Assurance Co. Can now owns 100,957 shares of the business services provider’s stock valued at $6,322,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Ritchie Bros. Auctioneers by 14.9% during the first quarter. Dimensional Fund Advisors LP now owns 284,874 shares of the business services provider’s stock valued at $16,816,000 after purchasing an additional 37,047 shares during the last quarter. 81.09% of the stock is owned by hedge funds and other institutional investors.

About Ritchie Bros. Auctioneers

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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.

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