Brokerages Set Sothebys (NYSE:BID) Target Price at $50.33

Shares of Sothebys (NYSE:BID) have received a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $52.00.

Several equities analysts have issued reports on BID shares. ValuEngine upgraded Sothebys from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Evercore ISI reiterated a “hold” rating and issued a $57.00 target price on shares of Sothebys in a research note on Thursday. TheStreet lowered Sothebys from a “b-” rating to a “c” rating in a research note on Wednesday, May 15th. Zacks Investment Research lowered Sothebys from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Berenberg Bank reiterated a “hold” rating and issued a $57.00 target price on shares of Sothebys in a research note on Wednesday, June 19th.

BID opened at $58.63 on Wednesday. The company has a 50-day moving average of $58.33. Sothebys has a 1 year low of $32.01 and a 1 year high of $59.94. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 23.64 and a beta of 1.99.

Sothebys (NYSE:BID) last posted its earnings results on Tuesday, July 30th. The specialty retailer reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.11). Sothebys had a net margin of 10.47% and a return on equity of 28.39%. The company had revenue of $361.78 million during the quarter, compared to analysts’ expectations of $336.58 million. During the same quarter last year, the firm earned $1.09 EPS. As a group, research analysts predict that Sothebys will post 2.63 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of BID. PNC Financial Services Group Inc. boosted its holdings in Sothebys by 34.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,048 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 271 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Sothebys by 339.6% in the first quarter. Quadrant Capital Group LLC now owns 1,609 shares of the specialty retailer’s stock worth $59,000 after acquiring an additional 1,243 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Sothebys in the first quarter worth about $75,000. SG Americas Securities LLC acquired a new stake in Sothebys in the first quarter worth about $157,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Sothebys in the first quarter worth about $203,000.

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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Analyst Recommendations for Sothebys (NYSE:BID)

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