Ritchie Bros. Auctioneers’ (RBA) Buy Rating Reiterated at Robert W. Baird

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA)‘s stock had its “buy” rating reaffirmed by Robert W. Baird in a research note issued to investors on Tuesday, September 12th. They currently have a $33.00 price target on the business services provider’s stock. Robert W. Baird’s target price points to a potential upside of 4.86% from the company’s previous close.

Several other analysts also recently weighed in on RBA. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Royal Bank Of Canada set a $40.00 price objective on shares of Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a research note on Wednesday, August 9th. National Bank Financial reduced their price objective on shares of Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 9th. Scotiabank lifted their price target on shares of Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Finally, TD Securities cut their price target on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating on the stock in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $32.82.

Ritchie Bros. Auctioneers (NYSE RBA) opened at 31.47 on Tuesday. Ritchie Bros. Auctioneers has a 12-month low of $26.68 and a 12-month high of $39.96. The stock has a market capitalization of $3.37 billion, a PE ratio of 68.12 and a beta of 0.57. The stock has a 50 day moving average price of $28.90 and a 200-day moving average price of $30.19.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The firm had revenue of $166.20 million during the quarter, compared to the consensus estimate of $161.85 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Ritchie Bros. Auctioneers will post $0.82 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was reported by BBNS and is the sole property of of BBNS. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://baseballnewssource.com/markets/ritchie-bros-auctioneers-incorporated-rba-receives-buy-rating-from-robert-w-baird/1639769.html.

In related news, CFO Sharon Ruth Driscoll purchased 1,375 shares of Ritchie Bros. Auctioneers stock in a transaction that occurred on Thursday, September 7th. The stock was purchased at an average price of $29.77 per share, for a total transaction of $40,933.75. Following the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at $29,770. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.39% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley raised its position in shares of Ritchie Bros. Auctioneers by 1.7% during the 1st quarter. Morgan Stanley now owns 451,080 shares of the business services provider’s stock worth $14,841,000 after purchasing an additional 7,478 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Ritchie Bros. Auctioneers by 2,029.1% during the 1st quarter. Mackenzie Financial Corp now owns 480,485 shares of the business services provider’s stock worth $15,808,000 after purchasing an additional 457,917 shares during the last quarter. Bradley Foster & Sargent Inc. CT acquired a new stake in Ritchie Bros. Auctioneers in the 2nd quarter valued at about $3,937,000. Oppenheimer Asset Management Inc. raised its holdings in Ritchie Bros. Auctioneers by 3.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 116,601 shares of the business services provider’s stock valued at $3,351,000 after acquiring an additional 3,601 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Ritchie Bros. Auctioneers by 8.6% in the 1st quarter. Bank of America Corp DE now owns 871,136 shares of the business services provider’s stock valued at $28,661,000 after acquiring an additional 69,062 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.

Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

Receive News & Ratings for Ritchie Bros. Auctioneers Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers Incorporated and related companies with our FREE daily email newsletter.

 


Latest News

Bryce Harper Hoping to Return Monday from Knee Injury
Bryce Harper Hoping to Return Monday from Knee Injury
American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?


Leave a Reply

 
© 2006-2017 BBNS.