Tiffany & Co. (TIF) Downgraded by Oppenheimer to Market Perform

Tiffany & Co. (NYSE:TIF) was downgraded by research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday, The Fly reports. They presently have a $145.00 target price on the specialty retailer’s stock. Oppenheimer’s price objective indicates a potential upside of 7.94% from the company’s previous close.

A number of other equities research analysts have also issued reports on TIF. Loop Capital boosted their target price on Tiffany & Co. from $113.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, May 23rd. Cowen boosted their target price on Tiffany & Co. from $110.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 23rd. ValuEngine raised Tiffany & Co. from a “hold” rating to a “buy” rating in a research report on Wednesday, May 23rd. Citigroup boosted their target price on Tiffany & Co. to $150.00 and gave the stock a “buy” rating in a research report on Thursday, May 24th. Finally, Telsey Advisory Group boosted their target price on Tiffany & Co. from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, May 24th. Twelve analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $126.80.

Shares of Tiffany & Co. traded down $2.76, reaching $134.34, on Friday, MarketBeat.com reports. 1,218,231 shares of the company were exchanged, compared to its average volume of 1,609,700. The firm has a market capitalization of $17.03 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 2.48 and a beta of 1.79. The company has a quick ratio of 2.43, a current ratio of 5.82 and a debt-to-equity ratio of 0.27. Tiffany & Co. has a fifty-two week low of $86.15 and a fifty-two week high of $141.64.

Tiffany & Co. (NYSE:TIF) last announced its earnings results on Wednesday, May 23rd. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.31. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $959.20 million. Tiffany & Co. had a return on equity of 17.61% and a net margin of 9.75%. Tiffany & Co.’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. analysts expect that Tiffany & Co. will post 4.69 EPS for the current year.

In other Tiffany & Co. news, Director Abby F. Kohnstamm sold 8,577 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $132.16, for a total value of $1,133,536.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gretchen Koback-Pursel sold 881 shares of the company’s stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $133.66, for a total value of $117,754.46. Following the completion of the transaction, the insider now directly owns 883 shares in the company, valued at $118,021.78. The disclosure for this sale can be found here. Insiders have sold 71,407 shares of company stock worth $9,389,318 over the last three months. 1.30% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Hall Laurie J Trustee acquired a new position in Tiffany & Co. in the 2nd quarter worth about $197,000. Legacy Advisors LLC bought a new stake in shares of Tiffany & Co. during the 2nd quarter worth about $214,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Tiffany & Co. by 266.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,629 shares of the specialty retailer’s stock worth $214,000 after acquiring an additional 1,184 shares in the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in shares of Tiffany & Co. during the 2nd quarter worth about $216,000. Finally, Visionary Asset Management Inc. bought a new stake in shares of Tiffany & Co. during the 2nd quarter worth about $218,000. 81.66% of the stock is currently owned by institutional investors.

Tiffany & Co. Company Profile

Tiffany & Co, through its subsidiaries, designs, manufactures, and retails jewelry and other items in the Americas, the Asia-Pacific, Japan, Europe, and internationally. The company offers jewelry collections, engagement rings, and wedding bands. It also sells timepieces, leather goods, sterling silver goods, china, crystal, stationery, eyewear, fragrances, and other accessories; and wholesales diamonds and earnings.

Further Reading: Should you buy a closed-end mutual fund?

The Fly

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

Receive News & Ratings for Tiffany & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tiffany & Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply