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 0.7%. By the end of trading, Sothebys fell 48 cents (-1.5%) to $31.62 on light volume. Throughout the day, 540,099 shares of Sothebys exchanged hands as compared to its average daily volume of 1.5 million shares. The stock ranged in price between $30.86-$32.02 after having opened the day at $31.69 as compared to the previous trading day's close of $32.10. Other company's within the Specialty Retail industry that declined today were: Hastings Entertainment (HAST), down 6.7%, MarineMax (HZO), down 1.9%, and DGSE Companies (DGSE), down 1.6%. 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 $2.24 billion and is part of the services sector. The company has a P/E ratio of 11.7, equal to the average specialty retail industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 28.7% year to date as of the close of trading on Tuesday. Currently there are five analysts that rate Sothebys a buy, no analysts rate it a sell, and one rates it a hold. TheStreet Ratings rates Sothebys as a buy. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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