Ritchie Bros. Auctioneers (NYSE:RBA) Upgraded to “Positive” by OTR Global

OTR Global upgraded shares of Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) to a positive rating in a research report released on Monday, February 4th, The Fly reports.

A number of other equities analysts also recently weighed in on RBA. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a buy rating to a hold rating in a report on Tuesday, January 15th. ValuEngine downgraded shares of Ritchie Bros. Auctioneers from a buy rating to a hold rating in a report on Thursday, December 6th. Barrington Research reissued a hold rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, November 20th. Finally, National Bank Financial cut their price target on shares of Ritchie Bros. Auctioneers from $39.00 to $38.00 and set a sector perform rating on the stock in a report on Monday, November 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $37.71.

RBA traded down $0.57 during mid-day trading on Monday, reaching $36.93. 817,533 shares of the stock were exchanged, compared to its average volume of 279,437. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.28 and a quick ratio of 1.12. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.06 and a beta of 0.80. Ritchie Bros. Auctioneers has a 1 year low of $30.09 and a 1 year high of $38.77.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, February 14th. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 66.67%.

Several institutional investors and hedge funds have recently made changes to their positions in RBA. Eagle Asset Management Inc. increased its position in shares of Ritchie Bros. Auctioneers by 65.1% in the fourth quarter. Eagle Asset Management Inc. now owns 3,367,547 shares of the business services provider’s stock worth $110,186,000 after purchasing an additional 1,327,657 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Ritchie Bros. Auctioneers by 9.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,718,774 shares of the business services provider’s stock worth $285,278,000 after purchasing an additional 750,283 shares during the last quarter. Bank of Montreal Can increased its position in shares of Ritchie Bros. Auctioneers by 162.4% in the fourth quarter. Bank of Montreal Can now owns 1,178,138 shares of the business services provider’s stock worth $38,547,000 after purchasing an additional 729,230 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Ritchie Bros. Auctioneers by 1,296.4% in the fourth quarter. Mackenzie Financial Corp now owns 624,092 shares of the business services provider’s stock worth $20,420,000 after purchasing an additional 579,398 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in shares of Ritchie Bros. Auctioneers in the fourth quarter worth approximately $15,813,000. Hedge funds and other institutional investors own 91.74% 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 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.

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