Ritchie Bros. Auctioneers Incorporated (RBA) Rating Lowered to Strong Sell at BidaskClub

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday, August 5th.

Several other equities analysts have also recently weighed in on the stock. Raymond James Financial, Inc. lowered their price objective on shares of Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating on the stock in a research report on Tuesday, July 11th. TD Securities reiterated a “sell” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, May 9th. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 9th. CIBC reiterated an “outperform” rating and set a $36.00 price objective on shares of Ritchie Bros. Auctioneers in a research report on Thursday, April 13th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $29.00 price objective (down from $32.00) on shares of Ritchie Bros. Auctioneers in a research report on Friday, April 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and a consensus price target of $33.42.

Shares of Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.59% on Friday, hitting $28.42. The company’s stock had a trading volume of 773,311 shares. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96. The stock’s 50 day moving average is $28.11 and its 200-day moving average is $30.65. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 61.52 and a beta of 0.55.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $161.85 million. During the same period in the previous year, the company posted $0.37 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Ritchie Bros. Auctioneers will post $1.02 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Ritchie Bros. Auctioneers Incorporated (RBA) Rating Lowered to Strong Sell at BidaskClub” was first reported by BNB Daily and is owned by of BNB Daily. If you are accessing this story on another site, it was illegally copied and reposted in violation of United States & international copyright and trademark laws. The original version of this story can be accessed at https://www.baseball-news-blog.com/2017/08/19/bidaskclub-lowers-ritchie-bros-auctioneers-incorporated-rba-to-strong-sell-updated.html.

Several large investors have recently added to or reduced their stakes in the stock. World Asset Management Inc raised its stake in Ritchie Bros. Auctioneers by 0.7% in the first quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock valued at $218,000 after buying an additional 43 shares during the last quarter. Comerica Bank raised its stake in Ritchie Bros. Auctioneers by 0.7% in the first quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock valued at $221,000 after buying an additional 44 shares during the last quarter. Forward Management LLC raised its stake in Ritchie Bros. Auctioneers by 3.5% in the first quarter. Forward Management LLC now owns 5,528 shares of the business services provider’s stock valued at $182,000 after buying an additional 188 shares during the last quarter. First Bank & Trust raised its stake in Ritchie Bros. Auctioneers by 3.8% in the second quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock valued at $155,000 after buying an additional 196 shares during the last quarter. Finally, Suntrust Banks Inc. raised its stake in Ritchie Bros. Auctioneers by 2.3% in the first quarter. Suntrust Banks Inc. now owns 11,159 shares of the business services provider’s stock valued at $367,000 after buying an additional 256 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply