Sotheby’s (BID) Stock Rating Upgraded by TheStreet
BID has been the topic of several other reports. Zacks Investment Research cut shares of Sotheby’s from a buy rating to a hold rating in a report on Friday, July 21st. Sidoti reaffirmed a buy rating and issued a $62.00 price target (up from $59.00) on shares of Sotheby’s in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Sotheby’s currently has a consensus rating of Hold and a consensus price target of $60.33.
Sotheby’s (NYSE BID) opened at 48.20 on Monday. The stock has a market capitalization of $2.54 billion, a P/E ratio of 34.58 and a beta of 1.81. The company has a 50 day moving average of $54.29 and a 200-day moving average of $48.55. Sotheby’s has a 52-week low of $33.85 and a 52-week high of $57.95.
Sotheby’s (NYSE:BID) last posted its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by $0.08. The company had revenue of $314.90 million during the quarter, compared to analyst estimates of $313.90 million. Sotheby’s had a net margin of 8.49% and a return on equity of 18.72%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.51 earnings per share. Equities research analysts anticipate that Sotheby’s will post $1.95 EPS for the current year.
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Several hedge funds have recently modified their holdings of the company. Strs Ohio boosted its stake in shares of Sotheby’s by 2,200.0% in the first quarter. Strs Ohio now owns 2,300 shares of the specialty retailer’s stock worth $104,000 after buying an additional 2,200 shares during the period. Creative Planning boosted its stake in shares of Sotheby’s by 4.6% in the first quarter. Creative Planning now owns 2,282 shares of the specialty retailer’s stock worth $104,000 after buying an additional 100 shares during the period. US Bancorp DE boosted its stake in shares of Sotheby’s by 28.5% in the first quarter. US Bancorp DE now owns 2,486 shares of the specialty retailer’s stock worth $113,000 after buying an additional 551 shares during the period. TrimTabs Asset Management LLC boosted its stake in shares of Sotheby’s by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,841 shares of the specialty retailer’s stock worth $129,000 after buying an additional 1,336 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Sotheby’s by 20.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,400 shares of the specialty retailer’s stock worth $154,000 after buying an additional 582 shares during the period. 91.90% of the stock is currently owned by institutional investors.
Sotheby’s 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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