Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) does about 1.26M shares in volume on a normal day but saw 9172174 shares change hands in Monday trading. The company now has a market cap of 6.76B USD. Its current market price is $61.49, marking an increase of 2.19% compared to the previous close of $60.17. The 52 week high reached by this stock is $72.73 whilst the lowest price level in 52 weeks is $48.65. The script in recent trading has seen the stock touch a high of $62.25 and a low of $61.12.
Ritchie Bros. Auctioneers Incorporated (RBA) has a 20-day trading average at $58.57 and the current price is -15.45% off the 52-week high compared with 26.39% distance from its 52-week low. The 50-day simple moving average of the closing price is $56.46 and its 200-day simple moving average is $61.55. If we look at the stock’s price movements over the week, volatility stands at 1.64%, which increases to 1.67% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 69.95 to suggest the stock is neutral.
9 analysts observing the Ritchie Bros. Auctioneers Incorporated (RBA) stock have set the 12-month price targets for the company’s shares at between $55.00 and $70.00. The consensus objective for the share price is $63.50, suggesting that the stock has a potential upside of 3.17% over the period. The median price target is 1.62% away from the current levels at $62.50.
FactSet Research has provided data showing that 9 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 1 advise that it is a overweight. 3 analysts have rated it as a buy and 4 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 05, 2022 when Scotiabank upgraded the stock to “Sector Outperform” and issued a price target of between $59 and $65. Northcoast also upgraded the stock to “Buy” from Neutral on November 14, 2022 at a price target of $65. BofA Securities downgraded its price target at $74-$55.
The current price level is 5.51%, 9.33%, and -0.08% away from its SMA20, SMA50, and SMA200 respectively, with the RBA price moving above the 50-day SMA on January 23. Ritchie Bros. Auctioneers Incorporated (RBA) stock is up 3.43% over the week and 13.18% over the past month. Its price is 6.33% year-to-date and -1.87% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2022, with the company’s earnings per share (EPS) of $0.66 below consensus estimates by -$0.17. RBA’s earnings per share are forecast to grow by 104.60% this year and -8.50% over next year. Expected sales for next quarter are $542.61 million, which analysts say will come at $2.21 billion for the current fiscal year and next year at $2.35 billion. In addition, estimates put the company’s current quarterly revenue at an average of $488.55 million.
To reach the target analysts have set, the stock logically needs to grow 3.17 percent from here.
Outstanding shares total 110.84M with insiders holding 0.12% of the shares and institutional holders owning 89.57% of the company’s common stock. The company has a return on investment of 6.60% and return on equity of 25.50%. The price to earnings ratio (P/E ratio) amounts to 22.53 while the forward price to earnings ratio is 23.90. The beta has a value of 0.91. Price to book ratio is 5.50 and price to sales ratio is 4.10.
According to a U.S. Securities and Exchange Commission filing, Janus Henderson Enterprise Fund has reduced its position in Ritchie Bros. Auctioneers Incorporated (RBA) to 2,988,678 shares, mirroring a recent drop by -11.26%. Janus Henderson Enterprise Fund dumped -0.38 million shares of Ritchie Bros. Auctioneers Incorporated common stock bringing its total worth to about $172.84 million at the end of recent close, SEC documents show. Janus Henderson Enterprise Fund isn’t the only investment manager who changed stakes and is followed by MFS International Growth Fund, which sold off -0.34 million shares to end up with 2,535,585 shares worth $146.63 million.