Analysts’ Weekly Ratings Updates for Ritchie Bros. Auctioneers (RBA)

Posted by on Aug 1st, 2022

Several brokerages have updated their recommendations and price targets on shares of Ritchie Bros. Auctioneers (NYSE: RBA) in the last few weeks:

  • 7/18/2022 – Ritchie Bros. Auctioneers was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 7/14/2022 – Ritchie Bros. Auctioneers was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $75.00 price target on the stock.
  • 7/13/2022 – Ritchie Bros. Auctioneers was downgraded by analysts at National Bankshares, Inc. from a “sector perform” rating to an “underperform” rating. They now have a $56.00 price target on the stock.
  • 7/12/2022 – Ritchie Bros. Auctioneers was downgraded by analysts at National Bank Financial from a “sector perform” rating to an “underperform” rating. They now have a $56.00 price target on the stock.
  • 7/8/2022 – Ritchie Bros. Auctioneers was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 6/17/2022 – Ritchie Bros. Auctioneers was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 6/9/2022 – Ritchie Bros. Auctioneers was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Ritchie Bros. Auctioneers Stock Performance

NYSE RBA opened at $72.07 on Monday. The stock has a market cap of $7.99 billion, a PE ratio of 26.59, a P/E/G ratio of 5.80 and a beta of 1.00. The company has a current ratio of 1.21, a quick ratio of 1.12 and a debt-to-equity ratio of 1.29. Ritchie Bros. Auctioneers Incorporated has a twelve month low of $48.65 and a twelve month high of $76.18. The stock has a fifty day simple moving average of $63.48 and a 200-day simple moving average of $59.81.

Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) last released its quarterly earnings results on Monday, May 9th. The business services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $1.43. The business had revenue of $393.92 million during the quarter, compared to analysts’ expectations of $344.15 million. Ritchie Bros. Auctioneers had a return on equity of 28.84% and a net margin of 20.40%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. Equities analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post 1.71 earnings per share for the current year.

Ritchie Bros. Auctioneers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, May 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, May 26th. Ritchie Bros. Auctioneers’s payout ratio is 36.90%.

Hedge Funds Weigh In On Ritchie Bros. Auctioneers

Several hedge funds have recently bought and sold shares of RBA. Vigilant Capital Management LLC lifted its stake in Ritchie Bros. Auctioneers by 669.2% during 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 in the last quarter. Whittier Trust Co. lifted its stake in Ritchie Bros. Auctioneers by 1,391.4% during the 2nd quarter. Whittier Trust Co. now owns 522 shares of the business services provider’s stock worth $34,000 after acquiring an additional 487 shares in the last quarter. Addison Advisors LLC acquired a new position in Ritchie Bros. Auctioneers during the 1st quarter worth about $37,000. Northwestern Mutual Wealth Management Co. lifted its stake in Ritchie Bros. Auctioneers by 860.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 759 shares of the business services provider’s stock worth $45,000 after acquiring an additional 680 shares in the last quarter. Finally, Curi Wealth Management LLC acquired a new position in Ritchie Bros. Auctioneers during the 4th quarter worth about $58,000. Institutional investors and hedge funds own 81.62% of the company’s stock.

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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