Oppenheimer Increases Tiffany & Co. Price Target to $112.00 (TIF)
Equities research analysts at Oppenheimer hoisted their price objective on shares of Tiffany & Co. (NYSE:TIF) from $101.00 to $112.00 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 12.98% from the stock’s previous close.
Tiffany & Co. (NYSE:TIF) opened at 99.13 on Friday. Tiffany & Co. has a 52 week low of $70.70 and a 52 week high of $99.19. The stock has a 50-day moving average of $89.42 and a 200-day moving average of $88.53. The company has a market cap of $12.781 billion and a price-to-earnings ratio of 56.36.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.19. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.05 million. During the same quarter in the prior year, the company posted $0.70 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts predict that Tiffany & Co. will post $4.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 10th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Wednesday, June 18th. This is a positive change from Tiffany & Co.’s previous quarterly dividend of $0.34.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet upgraded shares of Tiffany & Co. to a “buy” rating in a research note on Friday, May 23rd. Separately, analysts at Sterne Agee raised their price target on shares of Tiffany & Co. from $105.00 to $108.00 in a research note on Thursday, May 22nd. Finally, analysts at KeyCorp raised their price target on shares of Tiffany & Co. from $102.00 to $110.00 in a research note on Thursday, May 22nd. They now have a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $96.11.
In other Tiffany & Co. news, CEO Michael Joseph Kowalski sold 54,687 shares of the stock on the open market in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $96.54, for a total value of $5,279,482.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Tiffany & Co (NYSE:TIF) is a holding company that operates through its subsidiary companies.
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