Ritchie Bros. Auctioneers (NYSE:RBA) Rating Increased to Buy at StockNews.com

Posted by on Jun 17th, 2022

Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Other equities analysts also recently issued research reports about the company. National Bankshares dropped their price target on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 22nd. Raymond James set a $55.00 price target on Ritchie Bros. Auctioneers and gave the stock a “market perform” rating in a research report on Thursday, May 12th. Bank of America upgraded Ritchie Bros. Auctioneers from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $61.00 in a report on Friday, May 13th. Royal Bank of Canada raised their price objective on Ritchie Bros. Auctioneers from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, May 12th. Finally, Robert W. Baird decreased their price objective on Ritchie Bros. Auctioneers from $82.00 to $70.00 in a report on Tuesday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.14.

NYSE RBA opened at $58.97 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 market capitalization of $6.53 billion, a P/E ratio of 21.76, a PEG ratio of 5.01 and a beta of 1.12. The business has a 50 day moving average price of $58.03 and a 200 day moving average price of $59.53. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.21 and a quick ratio of 1.12.

Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) last released its quarterly earnings data on Monday, May 9th. The business services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $0.17 by $1.43. The firm had revenue of $393.92 million during the quarter, compared to the consensus estimate of $344.15 million. Ritchie Bros. Auctioneers had a return on equity of 28.84% and a net margin of 20.40%. Ritchie Bros. Auctioneers’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. On average, research analysts expect that Ritchie Bros. Auctioneers will post 1.71 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in RBA. Vigilant Capital Management LLC boosted its position in shares of Ritchie Bros. Auctioneers by 669.2% during the first quarter. Vigilant Capital Management LLC now owns 500 shares of the business services provider’s stock worth $30,000 after buying an additional 435 shares during the period. Addison Advisors LLC acquired a new position in shares of Ritchie Bros. Auctioneers in the first quarter worth $37,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Ritchie Bros. Auctioneers by 860.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 759 shares of the business services provider’s stock worth $45,000 after purchasing an additional 680 shares in the last quarter. Carroll Financial Associates Inc. boosted its holdings in Ritchie Bros. Auctioneers by 70.1% in the fourth quarter. Carroll Financial Associates Inc. now owns 767 shares of the business services provider’s stock worth $47,000 after purchasing an additional 316 shares in the last quarter. Finally, Curi Wealth Management LLC bought a new stake in Ritchie Bros. Auctioneers in the fourth quarter worth $58,000. 81.62% of the stock is owned by hedge funds and other institutional investors.

Ritchie Bros. Auctioneers Company Profile (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.

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