In a report released yesterday, Omar Saad from Evercore ISI maintained a Hold rating on Sothebys (BID), with a price target of $57. The company’s shares opened today at $59.19, close to its 52-week high of $59.94.
Saad commented:
“We derive our $57 Price Target by applying a 17.8x P/E to our $3.30 2020 EPS. RISKS 1. The deal breaks 2. Collapses 3. Chinese recession COMPANIES UNDER COVERAGE BY AUTHOR Evercore ISI €260.00 AEO American Eagle Outfitters, Inc. $21.00 ANF Abercrombie & Fitch Co. Outperform $17.03 $25.00 BID Group plc £23.00 BURL CHF83.00 COLM $110.00 CPRI $50.00 CRI $95.00 DECK Deckers Outdoor Corp.”
According to TipRanks.com, Saad is ranked #1349 out of 5229 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for Sothebys with a $57 average price target.
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The company has a one-year high of $59.94 and a one-year low of $32.01. Currently, Sothebys has an average volume of 765.1K.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BID in relation to earlier this year.
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Sotheby’s operates as an art auction house. It operates through the following segments: Agency, SFS, and All Other. The Agency segment accepts property on consignment, and match sellers to buyers through the auction of private sale process.
