Analysts Set Sothebys (BID) Price Target at $62.50

Shares of Sothebys (NYSE:BID) have received a consensus rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $62.50.

A number of research analysts have issued reports on BID shares. ValuEngine downgraded shares of Sothebys from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research downgraded shares of Sothebys from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th.

Several large investors have recently added to or reduced their stakes in BID. UBS Group AG grew its position in shares of Sothebys by 50.1% in the 1st quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock worth $147,000 after buying an additional 961 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Sothebys in the 2nd quarter worth about $176,000. Raymond James & Associates purchased a new stake in shares of Sothebys in the 2nd quarter worth about $268,000. North Star Investment Management Corp. purchased a new stake in shares of Sothebys in the 2nd quarter worth about $268,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Sothebys in the 1st quarter worth about $296,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:BID traded up $0.24 during midday trading on Friday, reaching $44.44. 3,540 shares of the stock traded hands, compared to its average volume of 479,122. Sothebys has a 12 month low of $41.51 and a 12 month high of $60.16. The company has a quick ratio of 1.21, a current ratio of 1.23 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $2.30 billion, a P/E ratio of 19.89 and a beta of 1.67.

Sothebys (NYSE:BID) last posted its quarterly earnings results on Monday, August 6th. The specialty retailer reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.46). Sothebys had a net margin of 10.11% and a return on equity of 20.32%. The firm had revenue of $345.60 million for the quarter, compared to the consensus estimate of $330.28 million. During the same quarter in the prior year, the company earned $1.43 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, analysts anticipate that Sothebys will post 2.25 EPS for the current year.

Sothebys Company Profile

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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