Sterne Agee Upgrades Tiffany & Co. to “Buy” (TIF)
Tiffany & Co. (NYSE:TIF) was upgraded by stock analysts at Sterne Agee from a “neutral” rating to a “buy” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $86.00 price target on the stock. Sterne Agee’s price target indicates a potential upside of 16.36% from the company’s current price.
The analysts wrote, “We are upgrading TIF to Buy. The company has a highly visible margin recapture opportunity over the next 18-24 months, a rapidly growing international platform (50% of sales comping HSD) and a US business that, while lagging the past 18 months, has recently made a number of key hires and implemented several new product initiatives that should lead to improving performance over the medium-term. The recent pullback has created a compelling entry point, and we see several ways to win from here.”
Shares of Tiffany & Co. (NYSE:TIF) traded up 2.88% during mid-day trading on Wednesday, hitting $76.04. The stock had a trading volume of 234,786 shares. Tiffany & Co. has a 52-week low of $55.83 and a 52-week high of $83.33. The stock has a 50-day moving average of $78.21 and a 200-day moving average of $76.37. The company has a market cap of $9.729 billion and a price-to-earnings ratio of 21.94.
Tiffany & Co. (NYSE:TIF) last announced its earnings results on Tuesday, August 27th. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.74 by $0.09. The company had revenue of $926.00 million for the quarter, compared to the consensus estimate of $941.37 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts expect that Tiffany & Co. will post $3.62 EPS for the current fiscal year.
In other Tiffany & Co. news, EVP Jon King unloaded 17,000 shares of the stock on the open market in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $76.86, for a total transaction of $1,306,620.00. Following the sale, the executive vice president now directly owns 38,024 shares of the company’s stock, valued at approximately $2,922,525. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of other analysts have also recently weighed in on TIF. Analysts at Cantor Fitzgerald initiated coverage on shares of Tiffany & Co. in a research note to investors on Thursday, October 3rd. They set a “buy” rating and a $88.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Tiffany & Co. in a research note to investors on Tuesday, September 3rd. They now have a $81.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Tiffany & Co. in a research note to investors on Wednesday, August 28th. They now have a $73.00 price target on the stock, up previously from $68.50. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $78.20.
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (NYSE:TIF), is a jeweler and specialty retailer whose principal merchandise offering is jewelry.
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