Ritchie Bros. Auctioneers (NYSE:RBA) Sees Large Volume Increase

Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) shares saw an uptick in trading volume on Wednesday . 12,613 shares traded hands during mid-day trading, a decline of 97% from the previous session’s volume of 490,946 shares.The stock last traded at $59.18 and had previously closed at $59.28.

Several research firms have recently commented on RBA. StockNews.com raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a report on Friday, May 13th. National Bank Financial cut their price objective on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating for the company in a report on Tuesday, February 22nd. Royal Bank of Canada increased their price target on Ritchie Bros. Auctioneers from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, May 12th. Raymond James set a $55.00 price objective on Ritchie Bros. Auctioneers and gave the stock a “market perform” rating in a research report on Thursday, May 12th. Finally, Robert W. Baird reduced their price objective on Ritchie Bros. Auctioneers from $82.00 to $70.00 in a research note on Tuesday, February 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $60.14.

The company has a debt-to-equity ratio of 1.29, a current ratio of 1.21 and a quick ratio of 1.12. The company has a 50-day moving average of $57.73 and a two-hundred day moving average of $60.64. The company has a market capitalization of $6.53 billion, a PE ratio of 21.87, a P/E/G ratio of 5.07 and a beta of 1.12.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last issued its quarterly earnings data on Monday, May 9th. The business services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $0.17 by $1.43. The company had revenue of $393.92 million for 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 firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, research analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post 1.71 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Friday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 36.90%.

In other Ritchie Bros. Auctioneers news, CEO Ann Fandozzi purchased 9,560 shares of Ritchie Bros. Auctioneers stock in a transaction dated Monday, February 28th. The shares were acquired at an average cost of $52.25 per share, with a total value of $499,510.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.71% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBA. Vigilant Capital Management LLC increased its position in shares of Ritchie Bros. Auctioneers by 669.2% in the 1st quarter. Vigilant Capital Management LLC now owns 500 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 435 shares during the period. Addison Advisors LLC acquired a new position in shares of Ritchie Bros. Auctioneers in the 1st quarter valued at $37,000. Manchester Capital Management LLC increased its position in shares of Ritchie Bros. Auctioneers by 1,846.9% in the 3rd quarter. Manchester Capital Management LLC now owns 623 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 591 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Ritchie Bros. Auctioneers by 860.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 759 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 680 shares during the period. Finally, 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 valued at $47,000 after purchasing an additional 316 shares during the last quarter. 81.62% of the stock is currently owned by hedge funds and other institutional investors.

About Ritchie Bros. Auctioneers (NYSE:RBA)

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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