Tiffany & Co. (TIF) Raised to “Outperform” at Cowen and Company
Tiffany & Co. (NYSE:TIF) was upgraded by stock analysts at Cowen and Company from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $90.00 price target on the stock, up from their prior price target of $74.00. Cowen and Company’s price target would indicate a potential upside of 12.18% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. Mizuho set a $82.00 price objective on Tiffany & Co. and gave the stock a “buy” rating in a report on Tuesday, September 13th. Jefferies Group restated a “buy” rating on shares of Tiffany & Co. in a report on Friday, September 2nd. Nomura set a $76.00 price objective on Tiffany & Co. and gave the stock a “buy” rating in a report on Monday, August 29th. Bank of America Corp. set a $75.00 price objective on Tiffany & Co. and gave the stock a “buy” rating in a report on Thursday, September 22nd. Finally, Guggenheim initiated coverage on Tiffany & Co. in a report on Friday, September 30th. They set a “buy” rating and a $85.00 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $79.89.
Shares of Tiffany & Co. (NYSE:TIF) opened at 80.23 on Friday. Tiffany & Co. has a 52 week low of $56.99 and a 52 week high of $81.76. The company’s 50-day moving average price is $73.21 and its 200 day moving average price is $67.44. The company has a market cap of $10.02 billion, a P/E ratio of 22.88 and a beta of 1.84.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Thursday, August 25th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. Tiffany & Co. had a return on equity of 15.90% and a net margin of 11.26%. The company earned $932 million during the quarter, compared to analysts’ expectations of $931.37 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. The business’s revenue was down 5.9% on a year-over-year basis. On average, equities analysts forecast that Tiffany & Co. will post $3.66 EPS for the current fiscal year.
In other news, SVP Philippe Galtie sold 482 shares of the stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $72.01, for a total transaction of $34,708.82. Following the transaction, the senior vice president now owns 670 shares of the company’s stock, valued at approximately $48,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in Tiffany & Co. by 1.0% in the third quarter. Morgan Stanley now owns 1,770,026 shares of the company’s stock worth $128,556,000 after buying an additional 17,755 shares during the period. Acrospire Investment Management LLC raised its stake in Tiffany & Co. by 333.3% in the third quarter. Acrospire Investment Management LLC now owns 2,600 shares of the company’s stock worth $189,000 after buying an additional 2,000 shares in the last quarter. Principal Financial Group Inc. raised its stake in Tiffany & Co. by 0.3% in the third quarter. Principal Financial Group Inc. now owns 161,025 shares of the company’s stock worth $11,696,000 after buying an additional 424 shares in the last quarter. Brave Asset Management Inc raised its stake in Tiffany & Co. by 3.0% in the third quarter. Brave Asset Management Inc now owns 11,840 shares of the company’s stock worth $860,000 after buying an additional 340 shares in the last quarter. Finally, Global Endowment Management LP acquired a new stake in Tiffany & Co. during the third quarter worth $3,668,000. 85.71% of the stock is currently owned by institutional investors.
About Tiffany & Co.
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO. retail stores. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other.
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