ValuEngine lowered shares of Sothebys (NYSE:BID) from a buy rating to a hold rating in a report published on Friday.

A number of other analysts also recently weighed in on BID. Zacks Investment Research downgraded shares of Sothebys from a buy rating to a hold rating in a report on Thursday, August 9th. TheStreet downgraded shares of Sothebys from a b rating to a c rating in a report on Monday, November 5th. Finally, Sidoti upgraded shares of Sothebys from a neutral rating to a buy rating and set a $50.00 target price on the stock in a report on Tuesday, November 27th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Sothebys currently has an average rating of Buy and a consensus target price of $60.00.

Shares of Sothebys stock traded down $1.90 during trading hours on Friday, reaching $37.28. The company’s stock had a trading volume of 799,979 shares, compared to its average volume of 421,035. Sothebys has a one year low of $37.24 and a one year high of $60.16. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 1.89. The company has a market cap of $1.92 billion, a PE ratio of 17.49 and a beta of 1.71.

Sothebys (NYSE:BID) last posted its earnings results on Thursday, November 1st. The specialty retailer reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.16. Sothebys had a net margin of 10.21% and a return on equity of 21.41%. The firm had revenue of $119.20 million for the quarter, compared to the consensus estimate of $130.70 million. During the same period in the previous year, the firm posted ($0.45) EPS. The business’s quarterly revenue was down 33.8% on a year-over-year basis. As a group, sell-side analysts expect that Sothebys will post 2.28 earnings per share for the current fiscal year.

In other news, insider Jr. Thomas S. Smith purchased 15,250 shares of the company’s stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average cost of $40.96 per share, with a total value of $624,640.00. Following the purchase, the insider now owns 119,725 shares in the company, valued at $4,903,936. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.81% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. purchased a new position in shares of Sothebys during the 3rd quarter worth about $1,239,000. Marshall Wace LLP boosted its stake in shares of Sothebys by 70.0% during the 3rd quarter. Marshall Wace LLP now owns 379,644 shares of the specialty retailer’s stock worth $18,675,000 after purchasing an additional 156,362 shares during the period. Teachers Advisors LLC boosted its stake in shares of Sothebys by 374.4% during the 3rd quarter. Teachers Advisors LLC now owns 338,006 shares of the specialty retailer’s stock worth $16,627,000 after purchasing an additional 266,753 shares during the period. MetLife Investment Advisors LLC boosted its stake in shares of Sothebys by 17.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 48,160 shares of the specialty retailer’s stock worth $2,369,000 after purchasing an additional 7,164 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Sothebys during the 3rd quarter worth about $152,000.

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.

Featured Article: How is a Moving Average Calculated?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Sothebys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sothebys and related companies with MarketBeat.com's FREE daily email newsletter.