Several other analysts have also commented on RBA. Royal Bank of Canada increased their target price on shares of NVIDIA to $200.00 and gave the company an outperform rating in a research note on Monday, May 13th. National Bank Financial lowered shares of WestJet Airlines from a reduce rating to a tender rating and boosted their price target for the company from C$22.00 to C$31.00 in a report on Monday, May 13th. Raymond James lowered shares of RioCan Real Estate Investment Trust to a hold rating in a report on Monday, July 15th. CIBC restated a hold rating and set a $37.00 price target on shares of Ritchie Bros. Auctioneers in a report on Wednesday, May 15th. Finally, Zacks Investment Research upgraded shares of General Moly from a sell rating to a hold rating in a report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $36.28.
RBA stock opened at $36.18 on Thursday. Ritchie Bros. Auctioneers has a 12 month low of $30.76 and a 12 month high of $38.77. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 4.32 and a beta of 0.74. The company’s 50 day simple moving average is $34.47. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, May 9th. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). Ritchie Bros. Auctioneers had a net margin of 10.10% and a return on equity of 14.47%. The business had revenue of $303.40 million for the quarter, compared to analyst estimates of $268.69 million. During the same period in the prior year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities analysts forecast that Ritchie Bros. Auctioneers will post 1.2 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Brand Asset Management Group Inc. acquired a new stake in shares of Ritchie Bros. Auctioneers during the first quarter valued at approximately $54,000. Manchester Capital Management LLC acquired a new position in Ritchie Bros. Auctioneers in the 1st quarter valued at approximately $34,000. Beutel Goodman & Co Ltd. acquired a new position in Ritchie Bros. Auctioneers in the 1st quarter valued at approximately $41,000. Bremer Bank National Association acquired a new position in Ritchie Bros. Auctioneers in the 1st quarter valued at approximately $61,000. Finally, Icon Wealth Partners LLC acquired a new position in Ritchie Bros. Auctioneers in the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds own 90.13% of the company’s stock.
About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site 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, as well as construction and heavy machinery.
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