Tiffany & Co. (TIF) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Tiffany & Co. (NYSE:TIF) from a buy rating to a hold rating in a research report sent to investors on Monday.

According to Zacks, “Tiffany's omni-channel platform, store expansion plans, tapping of new markets and venturing into new revenue generating areas has aided it to outpace the industry in a year. Additionally, the company delivered fifth straight quarter of positive earnings surprise, when it posted second-quarter fiscal 2017 results. Net sales also grew and beat the Zacks consensus mark. The company registered sturdy wholesale sales of diamonds, higher wholesale sales in the Asia-Pacific region and robust e-Commerce sales growth. Management continues to project mid-single-digit-percentage increase in earnings per share and low-single-digit percentage growth in net sales in fiscal 2017. However, Tiffany pointed that despite its sustained cost containment efforts it expects full year SG&A expense to increase at a marginally higher rate than sales. Moreover, we observed that the comparable-store sales have been struggling for quite some time now.”

Several other equities research analysts have also issued reports on TIF. BidaskClub lowered Tiffany & Co. from a strong-buy rating to a buy rating in a research note on Thursday, August 10th. Jefferies Group LLC set a $110.00 price target on Tiffany & Co. and gave the stock a buy rating in a research note on Wednesday, August 16th. Susquehanna Bancshares Inc began coverage on Tiffany & Co. in a research note on Thursday, November 2nd. They set a neutral rating and a $100.00 price target for the company. raised Tiffany & Co. from a hold rating to a buy rating and lifted their price target for the stock from $90.00 to $110.00 in a research note on Monday, October 2nd. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Tiffany & Co. in a research note on Tuesday, October 17th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Tiffany & Co. has an average rating of Hold and a consensus price target of $94.91.

Tiffany & Co. (NYSE:TIF) traded up $1.51 during trading on Monday, reaching $93.08. The company had a trading volume of 1,130,300 shares, compared to its average volume of 1,667,153. Tiffany & Co. has a twelve month low of $75.33 and a twelve month high of $97.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.29 and a current ratio of 5.75. The stock has a market capitalization of $11,401.58, a PE ratio of 23.66, a price-to-earnings-growth ratio of 2.15 and a beta of 1.96.

Tiffany & Co. (NYSE:TIF) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.06. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.41%. The business had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $930.19 million. During the same period in the previous year, the business earned $0.84 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. equities research analysts predict that Tiffany & Co. will post 3.95 EPS for the current year.

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In related news, major shareholder Qatar Investment Authority sold 4,400,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $94.16, for a total value of $414,304,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Francesco Trapani purchased 76,064 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was bought at an average price of $88.69 per share, for a total transaction of $6,746,116.16. The disclosure for this purchase can be found here. Insiders have acquired a total of 267,064 shares of company stock worth $23,789,094 in the last quarter. Company insiders own 1.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank grew its stake in shares of Tiffany & Co. by 25.5% in the 2nd quarter. Toronto Dominion Bank now owns 36,809 shares of the specialty retailer’s stock worth $3,455,000 after buying an additional 7,484 shares during the last quarter. Swiss National Bank grew its stake in shares of Tiffany & Co. by 2.8% in the 2nd quarter. Swiss National Bank now owns 453,348 shares of the specialty retailer’s stock worth $42,556,000 after buying an additional 12,400 shares during the last quarter. Andra AP fonden grew its stake in shares of Tiffany & Co. by 8.4% in the 2nd quarter. Andra AP fonden now owns 28,500 shares of the specialty retailer’s stock worth $2,675,000 after buying an additional 2,200 shares during the last quarter. Sei Investments Co. grew its stake in shares of Tiffany & Co. by 215.0% in the 2nd quarter. Sei Investments Co. now owns 14,390 shares of the specialty retailer’s stock worth $1,351,000 after buying an additional 9,822 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Tiffany & Co. by 0.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 763,141 shares of the specialty retailer’s stock worth $71,636,000 after buying an additional 2,684 shares during the last quarter. Institutional investors own 79.42% of the company’s stock.

About Tiffany & Co.

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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