Sotheby’s (NYSE:BID) Upgraded to “B” by TheStreet
Sotheby’s (NYSE:BID) was upgraded by analysts at TheStreet from a “c” rating to a “b” rating in a research report issued on Monday.
A number of other brokerages have also recently issued reports on BID. Zacks Investment Research raised shares of Sotheby’s from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Thursday, July 20th. Sidoti reaffirmed a “buy” rating and issued a $62.00 price objective (up previously from $59.00) on shares of Sotheby’s in a research note on Friday, July 21st.
Sotheby’s (BID) opened at 49.98 on Monday. Sotheby’s has a 1-year low of $33.85 and a 1-year high of $57.95. The stock’s 50 day moving average is $54.64 and its 200 day moving average is $48.26. The company has a market cap of $2.63 billion, a P/E ratio of 31.36 and a beta of 1.81.
Sotheby’s (NYSE:BID) last released its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $1.43 EPS for the quarter, missing the Zacks’ consensus estimate of $1.51 by $0.08. Sotheby’s had a return on equity of 18.72% and a net margin of 8.49%. The company had revenue of $314.90 million during the quarter, compared to analysts’ expectations of $313.90 million. During the same period in the prior year, the firm earned $1.51 EPS. Sotheby’s’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate that Sotheby’s will post $1.95 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Sotheby’s by 18,784.1% in the first quarter. BlackRock Inc. now owns 4,842,266 shares of the specialty retailer’s stock worth $220,225,000 after buying an additional 4,816,624 shares during the period. Vanguard Group Inc. boosted its stake in shares of Sotheby’s by 2.7% in the first quarter. Vanguard Group Inc. now owns 3,617,503 shares of the specialty retailer’s stock worth $164,524,000 after buying an additional 93,927 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Sotheby’s by 19.2% in the first quarter. Alliancebernstein L.P. now owns 3,306,408 shares of the specialty retailer’s stock worth $150,375,000 after buying an additional 532,977 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of Sotheby’s by 9.7% in the first quarter. Van Berkom & Associates Inc. now owns 1,448,429 shares of the specialty retailer’s stock worth $65,875,000 after buying an additional 127,560 shares during the period. Finally, Paradice Investment Management LLC boosted its stake in shares of Sotheby’s by 6.3% in the second quarter. Paradice Investment Management LLC now owns 1,042,007 shares of the specialty retailer’s stock worth $55,925,000 after buying an additional 61,500 shares during the period. 91.90% of the stock is owned by institutional investors.
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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