Sothebys (BID): Today's Featured Specialty Retail Loser
Sothebys (BID) pushed the Specialty Retail industry lower today making it today's featured Specialty Retail loser. The industry as a whole closed the day up 0.3%. By the end of trading, Sothebys fell 82 cents (-2.7%) to $29.71 on light volume. Throughout the day, 997,472 shares of Sothebys exchanged hands as compared to its average daily volume of 1.5 million shares. The stock ranged in price between $29.64-$30.96 after having opened the day at $30.79 as compared to the previous trading day's close of $30.53. Other company's within the Specialty Retail industry that declined today were: Perfumania Holdings Inc (PERF), down 15.7%, Dreams Incorporated (DRJ), down 6.5%, Titan Machinery Inc (TITN), down 3.7%, and DGSE Companies Inc (DGSE), down 3.7%. Sotheby's, together with its subsidiaries, operates as an auctioneer of fine and decorative art, jewelry, and collectibles in North America, Europe, and Asia. The company operates in three segments: Auction, Finance, and Dealer. Sothebys has a market cap of $2.14 billion and is part of the services sector. The company has a P/E ratio of 11.1, below the average specialty retail industry P/E ratio of 11.3 and below the S&P 500 P/E ratio of 17.7. Shares are down 32.1% year to date as of the close of trading on Thursday. TheStreet Ratings rates Sothebys as a buy. The company's strongest point has been its expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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