Royal Bank of Canada Increases Tiffany & Co. (TIF) Price Target to $108.00

Tiffany & Co. (NYSE:TIF) had its price objective boosted by investment analysts at Royal Bank of Canada to $108.00 in a research note issued to investors on Thursday, The Fly reports. The firm presently has a “sector perform” rating on the specialty retailer’s stock. Royal Bank of Canada’s target price would indicate a potential downside of 0.91% from the stock’s current price. The analysts noted that the move was a valuation call.

Several other analysts have also recently issued reports on the stock. Citigroup raised shares of Tiffany & Co. from a “neutral” rating to a “buy” rating and upped their price objective for the company from $92.00 to $115.00 in a research note on Thursday, December 14th. Oppenheimer reissued a “buy” rating on shares of Tiffany & Co. in a research note on Wednesday, November 22nd. Zacks Investment Research cut shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. Susquehanna Bancshares began coverage on shares of Tiffany & Co. in a research note on Thursday, November 2nd. They issued a “neutral” rating and a $100.00 price target for the company. Finally, Goldman Sachs Group cut shares of Tiffany & Co. from a “buy” rating to a “neutral” rating and dropped their price target for the company from $106.00 to $94.00 in a research note on Friday, September 22nd. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $102.00.

Shares of Tiffany & Co. (NYSE TIF) traded up $1.41 during midday trading on Thursday, reaching $108.99. 2,739,300 shares of the company traded hands, compared to its average volume of 1,841,782. Tiffany & Co. has a one year low of $77.15 and a one year high of $110.17. The stock has a market cap of $13,369.76, a PE ratio of 29.30, a PEG ratio of 2.50 and a beta of 1.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 5.44.

Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Wednesday, November 29th. The specialty retailer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. Tiffany & Co. had a net margin of 11.46% and a return on equity of 15.77%. The company had revenue of $976.20 million during the quarter, compared to analysts’ expectations of $957.18 million. During the same quarter in the prior year, the company earned $0.76 EPS. Tiffany & Co.’s revenue was up 2.8% compared to the same quarter last year. research analysts anticipate that Tiffany & Co. will post 3.99 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its position in shares of Tiffany & Co. by 25.5% during the 2nd quarter. Toronto Dominion Bank now owns 36,809 shares of the specialty retailer’s stock worth $3,455,000 after purchasing an additional 7,484 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Tiffany & Co. during the 3rd quarter worth approximately $274,000. Investec Asset Management LTD boosted its position in shares of Tiffany & Co. by 9.1% during the 3rd quarter. Investec Asset Management LTD now owns 2,290,293 shares of the specialty retailer’s stock worth $210,203,000 after purchasing an additional 191,783 shares during the period. KBC Group NV boosted its position in shares of Tiffany & Co. by 50.5% during the 3rd quarter. KBC Group NV now owns 38,769 shares of the specialty retailer’s stock worth $3,558,000 after purchasing an additional 13,013 shares during the period. Finally, Nationwide Fund Advisors boosted its position in shares of Tiffany & Co. by 11.6% during the 3rd quarter. Nationwide Fund Advisors now owns 33,935 shares of the specialty retailer’s stock worth $3,115,000 after purchasing an additional 3,539 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.

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Tiffany & Co. Company Profile

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. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.

The Fly

Analyst Recommendations for Tiffany & Co. (NYSE:TIF)