Sothebys Reaches New 52-Week High (BID)

NEW YORK ( TheStreet) -- Sothebys (NYSE: BID) hit a new 52-week high Thursday as it is currently trading at $40.90, above its previous 52-week high of $40.49 with 49,336 shares traded as of 9:40 a.m. ET. Average volume has been 1.3 million shares over the past 30 days.

Sothebys has a market cap of $2.74 billion and is part of the services sector and specialty retail industry. Shares are up 19.5% year to date as of the close of trading on Wednesday.

Sotheby's operates as an auctioneer of authenticated fine art, decorative art, and jewelry. The company operates in three segments: Auction, Finance, and Dealer.

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TheStreet Ratings rates Sothebys as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Sothebys Ratings Report.

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