Ritchie Bros. Auctioneers (NYSE:RBA) Downgraded to “Sector Perform” at National Bank Financial

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) was downgraded by equities research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a report released on Thursday, April 19th. They currently have a $35.00 target price on the business services provider’s stock, down from their previous target price of $37.00. National Bank Financial’s target price points to a potential upside of 6.19% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. TD Securities boosted their price objective on Ritchie Bros. Auctioneers from $22.00 to $25.00 and gave the stock a “reduce” rating in a research note on Wednesday, January 10th. Scotiabank boosted their price objective on Ritchie Bros. Auctioneers from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 10th. Barrington Research reissued a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, March 6th. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Thursday, March 1st. Finally, Raymond James boosted their price objective on Ritchie Bros. Auctioneers from $26.50 to $31.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $32.40.

Shares of NYSE:RBA traded down $0.06 during trading on Thursday, reaching $32.96. The stock had a trading volume of 498,100 shares, compared to its average volume of 603,081. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.23 and a quick ratio of 1.16. The firm has a market capitalization of $3.57 billion, a PE ratio of 40.77, a P/E/G ratio of 3.30 and a beta of 0.70. Ritchie Bros. Auctioneers has a 1-year low of $32.67 and a 1-year high of $33.26.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, May 10th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). The firm had revenue of $169.80 million during the quarter, compared to analyst estimates of $153.56 million. Ritchie Bros. Auctioneers had a return on equity of 12.50% and a net margin of 10.96%. The business’s revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. analysts expect that Ritchie Bros. Auctioneers will post 1.06 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc raised its holdings in shares of Ritchie Bros. Auctioneers by 3.8% in the 1st quarter. CIBC Asset Management Inc now owns 45,454 shares of the business services provider’s stock valued at $1,427,000 after buying an additional 1,643 shares during the period. Diversified Trust Co raised its holdings in shares of Ritchie Bros. Auctioneers by 10.3% in the 4th quarter. Diversified Trust Co now owns 17,595 shares of the business services provider’s stock valued at $527,000 after buying an additional 1,650 shares during the period. US Bancorp DE raised its holdings in shares of Ritchie Bros. Auctioneers by 2.4% in the 1st quarter. US Bancorp DE now owns 71,910 shares of the business services provider’s stock valued at $2,263,000 after buying an additional 1,706 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Ritchie Bros. Auctioneers by 1.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 175,204 shares of the business services provider’s stock valued at $5,514,000 after buying an additional 1,837 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Ritchie Bros. Auctioneers by 1.2% in the 4th quarter. Swiss National Bank now owns 182,300 shares of the business services provider’s stock valued at $5,463,000 after buying an additional 2,100 shares during the period.

Ritchie Bros. Auctioneers Company Profile

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. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

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