Sothebys (NYSE:BID) has received an average rating of “Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $59.25.
BID has been the topic of several research analyst reports. Zacks Investment Research lowered Sothebys from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. TheStreet lowered Sothebys from a “b” rating to a “c+” rating in a research note on Monday, November 6th. Finally, Aegis initiated coverage on Sothebys in a research note on Monday, October 30th. They issued a “buy” rating and a $60.00 price objective on the stock.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Sothebys by 9.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,974,106 shares of the specialty retailer’s stock valued at $213,290,000 after buying an additional 356,603 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Sothebys by 77.0% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,500,000 shares of the specialty retailer’s stock valued at $69,165,000 after buying an additional 652,600 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Sothebys by 13.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,446,850 shares of the specialty retailer’s stock valued at $74,657,000 after buying an additional 176,093 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of Sothebys by 57.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,273,438 shares of the specialty retailer’s stock valued at $65,709,000 after buying an additional 466,195 shares during the period. Finally, Paradice Investment Management LLC raised its holdings in shares of Sothebys by 5.1% during the 3rd quarter. Paradice Investment Management LLC now owns 1,094,660 shares of the specialty retailer’s stock valued at $50,475,000 after buying an additional 52,653 shares during the period. Institutional investors and hedge funds own 92.78% of the company’s stock.
Sothebys (NYSE:BID) last released its quarterly earnings data on Friday, November 3rd. The specialty retailer reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.23. The business had revenue of $171.39 million for the quarter, compared to analyst estimates of $101.14 million. Sothebys had a return on equity of 22.48% and a net margin of 10.95%. The company’s revenue was up 87.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.78) EPS. sell-side analysts anticipate that Sothebys will post 2.2 earnings per share for the current fiscal year.
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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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