Sothebys (BID) Receives $59.33 Average Price Target from Analysts

Shares of Sothebys (NYSE:BID) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $59.33.

A number of equities analysts have weighed in on the company. Zacks Investment Research raised Sothebys from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Aegis assumed coverage on Sothebys in a research report on Monday, October 30th. They set a “buy” rating and a $60.00 price target on the stock. TheStreet downgraded Sothebys from a “b” rating to a “c+” rating in a research report on Monday, November 6th. Finally, Consumer Edge raised Sothebys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, October 4th.

Large investors have recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of Sothebys by 5.2% during the second quarter. US Bancorp DE now owns 2,615 shares of the specialty retailer’s stock worth $140,000 after acquiring an additional 129 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Sothebys during the second quarter worth approximately $172,000. Riverhead Capital Management LLC boosted its holdings in shares of Sothebys by 72.9% during the second quarter. Riverhead Capital Management LLC now owns 3,630 shares of the specialty retailer’s stock worth $195,000 after acquiring an additional 1,530 shares during the period. Turner Investments LLC bought a new stake in shares of Sothebys during the second quarter worth approximately $228,000. Finally, TrimTabs Asset Management LLC boosted its holdings in shares of Sothebys by 70.5% during the second quarter. TrimTabs Asset Management LLC now owns 4,843 shares of the specialty retailer’s stock worth $260,000 after acquiring an additional 2,002 shares during the period. Institutional investors own 92.00% of the company’s stock.

Shares of Sothebys (BID) traded up $0.18 during midday trading on Monday, reaching $52.98. The company’s stock had a trading volume of 190,702 shares, compared to its average volume of 501,758. The firm has a market capitalization of $2,777.41, a P/E ratio of 24.95 and a beta of 1.86. The company has a current ratio of 1.73, a quick ratio of 1.62 and a debt-to-equity ratio of 1.91. Sothebys has a 1 year low of $38.46 and a 1 year high of $57.95.

Sothebys (NYSE:BID) last announced its quarterly earnings results on Friday, November 3rd. The specialty retailer reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.23. The firm had revenue of $171.39 million for the quarter, compared to the consensus estimate of $101.14 million. Sothebys had a return on equity of 22.48% and a net margin of 10.95%. The business’s revenue was up 87.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.78) earnings per share. equities analysts forecast that Sothebys will post 2.14 EPS for the current fiscal year.

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Sothebys Company Profile

Sotheby’s is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong.

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