Brokerages Set Sothebys (BID) PT at $59.25

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) opened at $47.18 on Tuesday. The firm has a market capitalization of $2,522.77, a PE ratio of 23.60 and a beta of 1.81. Sothebys has a 52 week low of $39.42 and a 52 week high of $57.95. 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 (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.

COPYRIGHT VIOLATION WARNING: This article was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://sportsperspectives.com/2018/02/09/brokerages-set-sothebys-bid-pt-at-59-25.html.

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.

Receive News & Ratings for Sothebys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sothebys and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply