Citigroup Upgrades Tiffany & Co. (TIF) to “Buy”

Tiffany & Co. (NYSE:TIF) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $115.00 price target on the specialty retailer’s stock, up from their prior price target of $92.00. Citigroup’s target price suggests a potential upside of 13.48% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. KeyCorp raised Tiffany & Co. from a “sector weight” rating to an “overweight” rating and lifted their price target for the stock from $94.50 to $115.00 in a research note on Friday, December 1st. Royal Bank of Canada set a $94.00 price objective on Tiffany & Co. and gave the stock a “hold” rating in a research report on Thursday, November 30th. Zacks Investment Research lowered Tiffany & Co. from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. SBG Securities lowered Tiffany & Co. from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Cowen set a $102.00 price objective on Tiffany & Co. and gave the stock a “buy” rating in a research report on Thursday, November 30th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Tiffany & Co. has an average rating of “Buy” and a consensus price target of $100.38.

Tiffany & Co. (NYSE TIF) opened at $101.34 on Thursday. The firm has a market capitalization of $12,345.72, a PE ratio of 25.41, a P/E/G ratio of 2.31 and a beta of 1.93. Tiffany & Co. has a 12 month low of $76.08 and a 12 month high of $101.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.44 and a quick ratio of 2.09.

Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings results on Wednesday, November 29th. The specialty retailer reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.04. The firm had revenue of $976.20 million for the quarter, compared to analysts’ expectations of $957.18 million. Tiffany & Co. had a return on equity of 15.77% and a net margin of 11.46%. Tiffany & Co.’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. analysts expect that Tiffany & Co. will post 3.98 earnings per share for the current fiscal year.

In related news, Director Francesco Trapani acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were acquired at an average cost of $89.34 per share, with a total value of $2,233,500.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert S. Singer acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was bought at an average cost of $88.13 per share, for a total transaction of $88,130.00. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TIF. QS Investors LLC increased its position in Tiffany & Co. by 8.2% in the 2nd quarter. QS Investors LLC now owns 1,363 shares of the specialty retailer’s stock worth $128,000 after buying an additional 103 shares during the period. Welch Group LLC increased its position in Tiffany & Co. by 0.5% in the 2nd quarter. Welch Group LLC now owns 1,549 shares of the specialty retailer’s stock worth $145,000 after buying an additional 8 shares during the period. Wetherby Asset Management Inc. bought a new position in Tiffany & Co. in the 2nd quarter worth approximately $201,000. Commerce Bank bought a new position in Tiffany & Co. in the 2nd quarter worth approximately $209,000. Finally, Pacer Advisors Inc. increased its position in Tiffany & Co. by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,267 shares of the specialty retailer’s stock worth $213,000 after buying an additional 174 shares during the period. 81.19% of the stock is currently owned by 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.

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

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