Sothebys (BID) Receives Consensus Rating of “Buy” from Analysts

Sothebys (NYSE:BID) has earned an average recommendation of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $59.25.

Several research analysts have commented on the company. Zacks Investment Research lowered Sothebys from a “buy” rating to a “hold” rating in a research report on Friday. Aegis assumed coverage on Sothebys in a research report on Monday, October 30th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, TheStreet lowered Sothebys from a “b” rating to a “c+” rating in a research report on Monday, November 6th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Sothebys by 9.9% during the second quarter. Vanguard Group Inc. now owns 3,974,106 shares of the specialty retailer’s stock worth $213,290,000 after acquiring an additional 356,603 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Sothebys by 77.0% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,500,000 shares of the specialty retailer’s stock worth $69,165,000 after acquiring an additional 652,600 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Sothebys by 13.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,446,850 shares of the specialty retailer’s stock worth $74,657,000 after acquiring an additional 176,093 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Sothebys by 57.8% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,273,438 shares of the specialty retailer’s stock worth $65,709,000 after acquiring an additional 466,195 shares during the last quarter. Finally, Paradice Investment Management LLC increased its position in shares of Sothebys by 5.1% during the third quarter. Paradice Investment Management LLC now owns 1,094,660 shares of the specialty retailer’s stock worth $50,475,000 after acquiring an additional 52,653 shares during the last quarter. 92.78% of the stock is currently owned by institutional investors and hedge funds.

Sothebys (NYSE:BID) traded up $0.30 during trading hours on Tuesday, reaching $48.54. The company’s stock had a trading volume of 472,226 shares, compared to its average volume of 335,507. The company has a quick ratio of 1.62, a current ratio of 1.73 and a debt-to-equity ratio of 1.91. Sothebys has a one year low of $38.97 and a one year high of $57.95. The stock has a market capitalization of $2,748.53, a price-to-earnings ratio of 24.41 and a beta of 1.81.

Sothebys (NYSE:BID) last released its quarterly earnings data on Friday, November 3rd. The specialty retailer reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.23. Sothebys had a return on equity of 22.48% and a net margin of 10.95%. The company had revenue of $171.39 million for the quarter, compared to analyst estimates of $101.14 million. During the same period last year, the company posted ($0.78) earnings per share. The firm’s revenue was up 87.3% compared to the same quarter last year. research analysts predict that Sothebys will post 2.2 EPS for the current fiscal year.

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About Sothebys

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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