Brokerage Firm Rating Update on Sothebys (BID)

Sothebys (BID) : Zacks Investment Research ranks Sothebys (BID) as 1, which is a Strong Buy recommendation. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 2 research analysts is 3, which indicates as a Hold.

Sothebys (BID) stock is expected to deviate a maximum of $0.71 from the average target price of $35.5 for the short term period. 2 Street Experts have initiated coverage on the stock with the most promising target being $36 and the most muted being $35.


Company shares have received an average consensus rating of Hold for the current week

Sothebys (NYSE:BID): stock was range-bound between the intraday low of $39.835 and the intraday high of $40.36 after having opened at $40.12 on Wednesdays session. The stock finally closed in the red at $40.12, a loss of -0.07%. The stock remained in the red for the whole trading day. The total traded volume was 418,379 shares. The stock failed to cross $40.36 in Wednesdays trading. The stocks closing price on Thursday was $40.19.

Sothebys is a global art business company. The Company operates in three segments: Agency, Principal and Finance. The Companys Agency segment accepts property on consignment, stimulates buyer interest through professional marketing techniques, and matches sellers (also known as consignors) to buyers through the auction or private sale process. The Companys Principal segment is engaged in the sale of artworks that have been purchased by Sothebys, including property acquired for sale at auction in the near term in lieu of the Agency segment providing an auction guarantee to a potential consignor. The Companys Finance segment provides certain collectors and art dealers with financing secured by works of art that Sothebys either has in its possession or permits borrowers to possess.

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