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. The company also offers live auction events with online bidding. It sells used equipment to its customers through live unreserved auctions at 40 auction sites worldwide. The company serves construction, transportation, agriculture, energy, oil and gas, mining, and forestry sectors. It operates in the United States, Canada, Australia, the United Arab Emirates, the Netherlands, Europe, the Middle East, Asia, and internationally. Ritchie Bros. Auctioneers Incorporated was founded in 1958 and is headquartered in Burnaby, Canada.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on RBA. National Bank Financial lowered Ritchie Bros. Auctioneers from a "sector perform" rating to an "underperform" rating and set a $56.00 target price on the stock. in a report on Tuesday, July 12th. Royal Bank of Canada upped their target price on shares of Ritchie Bros. Auctioneers from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, May 12th. National Bankshares boosted their price objective on shares of Ritchie Bros. Auctioneers from $56.00 to $60.00 and gave the stock an "underperform" rating in a report on Monday, August 8th. Raymond James increased their target price on shares of Ritchie Bros. Auctioneers from $60.00 to $62.00 and gave the company a "market perform" rating in a research note on Monday, August 8th. Finally, Bank of America upgraded Ritchie Bros. Auctioneers from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ritchie Bros. Auctioneers presently has a consensus rating of "Hold" and a consensus target price of $64.00.
Ritchie Bros. Auctioneers Trading Up 2.0 %
RBA Stock opened at $71.33 on Friday. Ritchie Bros. Auctioneers has a 1-year low of $48.65 and a 1-year high of $76.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. The business's 50 day moving average is $65.59 and its 200-day moving average is $60.46. The firm has a market cap of $7.91 billion, a P/E ratio of 27.02, a P/E/G ratio of 5.86 and a beta of 1.01.
Ritchie Bros. Auctioneers Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 14th. Shareholders of record on Wednesday, August 24th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.51%. This is a boost from Ritchie Bros. Auctioneers's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, August 23rd. Ritchie Bros. Auctioneers's dividend payout ratio is 37.88%.