Zacks Investment Research cut shares of Sothebys (NYSE:BID) from a buy rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “Sotheby’s Holdings, Inc. is one of the world’s second largest auctioneers of fine arts, antiques and collectibles, offering property in collecting categories, among them paintings, jewelry, decorative arts, and books. Sotheby’s Holdings, Inc is the parent company of Sotheby’s worldwide auction businesses, art-related financing and private sales activities. The Company operates in countries, with principal salesrooms located in New York and London. The company also regularly conducts auctions in other salesrooms around the world, including Australia, Hong Kong, France, Italy, the Netherlands, Switzerland and Singapore. “

BID has been the subject of a number of other research reports. ValuEngine upgraded shares of United Overseas Bank from a sell rating to a hold rating in a report on Monday, June 17th. Berenberg Bank dropped their price objective on shares of from GBX 190 ($2.48) to GBX 180 ($2.35) and set a buy rating for the company in a report on Wednesday, June 19th. Finally, TheStreet lowered shares of YRC Worldwide from a c rating to a d+ rating in a report on Wednesday, May 15th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $48.75.

Shares of NYSE BID opened at $57.85 on Tuesday. The firm has a 50 day simple moving average of $46.65. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 23.33 and a beta of 1.99. Sothebys has a 1 year low of $32.01 and a 1 year high of $59.30. The company has a current ratio of 1.16, a quick ratio of 1.11 and a debt-to-equity ratio of 2.61.

Sothebys (NYSE:BID) last issued its quarterly earnings data on Thursday, May 2nd. The specialty retailer reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.09. The business had revenue of $173.50 million during the quarter, compared to analyst estimates of $173.62 million. Sothebys had a net margin of 10.66% and a return on equity of 24.25%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.09 EPS. Analysts predict that Sothebys will post 2.63 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in Sothebys by 34.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,048 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 271 shares during the period. Quadrant Capital Group LLC raised its stake in Sothebys by 339.6% in the 1st quarter. Quadrant Capital Group LLC now owns 1,609 shares of the specialty retailer’s stock valued at $59,000 after acquiring an additional 1,243 shares during the period. Quantamental Technologies LLC bought a new stake in Sothebys in the 1st quarter valued at about $75,000. Crossmark Global Holdings Inc. bought a new stake in Sothebys in the 2nd quarter valued at about $215,000. Finally, SG Americas Securities LLC bought a new stake in Sothebys in the 1st quarter valued at about $157,000.

About Sothebys

Sotheby's operates as an auctioneer of authenticated fine art, decorative art, jewelry, wine, and collectibles in the United States, the United Kingdom, Hong Kong, China, Switzerland, France, and internationally. The company operates in two segments, Agency and Finance. The Agency segment accepts property on consignment; and matches sellers to buyers through the auction or private sale process.

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