Sotheby’s PT Raised to $54.00 at Wedbush (BID)
Equities research analysts at Wedbush upped their price objective on shares of Sotheby’s (NYSE:BID) from $49.00 to $54.00 in a research note issued to investors on Tuesday, StockRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 12.10% from the stock’s previous close.
Sotheby’s (NYSE:BID) traded up 1.26% on Tuesday, hitting $48.17. The stock had a trading volume of 1,625,899 shares. Sotheby’s has a one year low of $27.98 and a one year high of $49.17. The stock’s 50-day moving average is $46.08 and its 200-day moving average is $39.91. The company has a market cap of $3.292 billion and a P/E ratio of 31.93.
Sotheby’s (NYSE:BID) last released its earnings data on Tuesday, August 6th. The company reported $1.33 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.37 by $0.04. The company had revenue of $304.80 million for the quarter, compared to the consensus estimate of $318.14 million. During the same quarter in the previous year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Analysts expect that Sotheby’s will post $1.76 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. upgraded shares of Sotheby’s (NYSE:BID) from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $55.00 price target on the stock, up previously from $45.00. Separately, analysts at Craig Hallum reiterated a “hold” rating on shares of Sotheby’s (NYSE:BID) in a research note to investors on Thursday, September 12th. They now have a $38.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Sotheby’s (NYSE:BID) from $49.00 to $65.00 in a research note to investors on Thursday, September 12th. They now have a “buy” rating on the stock.
Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.53.
In other Sotheby’s news, Director John Angelo sold 275,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $48.55, for a total transaction of $13,351,250.00. Following the completion of the sale, the director now directly owns 117,200 shares in the company, valued at approximately $5,690,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Sotheby’s is a global auctioneer of authenticated fine art, decorative art, and jewelry. The Company operates in three segments: Auction, Finance, and Dealer.
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