Ritchie Bros. Auctioneers (NYSE:RBA - Get Rating) (TSE:RBA) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, "Ritchie Bros. Auctioneers conduct unreserved public auctions every year at locations throughout North and Central America, Europe, Asia, Australia, Africa and the Middle East. The company is known for their innovative auction methods, attention to detail and their total commitment to the unreserved auction. The confidence this gives their customers has enabled Ritchie Bros. to become one of the largest industrial auctioneer in the world. "
Several other analysts have also commented on the company. Raymond James dropped their price objective on Ritchie Bros. Auctioneers from $60.00 to $57.00 and set a "market perform" rating on the stock in a report on Friday, February 18th. TD Securities raised Ritchie Bros. Auctioneers from a "hold" rating to a "buy" rating and dropped their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 6th. National Bank Financial dropped their price objective on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 22nd. StockNews.com started coverage on Ritchie Bros. Auctioneers in a research note on Thursday, March 31st. They issued a "hold" rating for the company. Finally, National Bankshares dropped their price objective on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Ritchie Bros. Auctioneers presently has a consensus rating of "Hold" and an average target price of $60.17.
NYSE RBA opened at $54.72 on Wednesday. The stock has a 50-day moving average of $56.89. The company has a market capitalization of $6.06 billion, a P/E ratio of 40.24, a P/E/G ratio of 4.99 and a beta of 1.15. Ritchie Bros. Auctioneers has a 52 week low of $48.65 and a 52 week high of $76.18. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.30 and a quick ratio of 1.12.
Ritchie Bros. Auctioneers (NYSE:RBA - Get Rating) (TSE:RBA) last released its quarterly earnings results on Thursday, February 17th. The business services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.49 by ($0.22). Ritchie Bros. Auctioneers had a return on equity of 16.06% and a net margin of 10.72%. The company had revenue of $359.37 million during the quarter, compared to the consensus estimate of $391.89 million. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, analysts forecast that Ritchie Bros. Auctioneers will post 1.62 EPS for the current fiscal year.
In other Ritchie Bros. Auctioneers news, CEO Ann Fandozzi bought 9,560 shares of the business's stock in a transaction dated Monday, February 28th. The stock was acquired at an average cost of $52.25 per share, with a total value of $499,510.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.71% of the company's stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vigilant Capital Management LLC grew its holdings in shares of Ritchie Bros. Auctioneers by 669.2% in the 1st quarter. Vigilant Capital Management LLC now owns 500 shares of the business services provider's stock worth $30,000 after acquiring an additional 435 shares during the period. Manchester Capital Management LLC grew its holdings in shares of Ritchie Bros. Auctioneers by 1,846.9% in the 3rd quarter. Manchester Capital Management LLC now owns 623 shares of the business services provider's stock worth $38,000 after acquiring an additional 591 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Ritchie Bros. Auctioneers in the 3rd quarter worth approximately $42,000. Carroll Financial Associates Inc. grew its holdings in shares of Ritchie Bros. Auctioneers by 70.1% in the 4th quarter. Carroll Financial Associates Inc. now owns 767 shares of the business services provider's stock worth $47,000 after acquiring an additional 316 shares during the period. Finally, Curi Wealth Management LLC acquired a new stake in shares of Ritchie Bros. Auctioneers in the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 79.91% of the company's stock.
About Ritchie Bros. Auctioneers (Get Rating)
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
Get a free copy of the Zacks research report on Ritchie Bros. Auctioneers (RBA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Ritchie Bros. Auctioneers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ritchie Bros. Auctioneers wasn't on the list.
While Ritchie Bros. Auctioneers currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here
