Published: Thu, May 24, 2018
People | By Leon Thompson

Tiffany is soaring after blowing past Wall Street estimates

Tiffany is soaring after blowing past Wall Street estimates

The firm now has a $86.00 price target on the stock.

Hedge funds have recently bought and sold shares of the stock. Tiffany & Co. has a 12-month low of $84.15 and a 12-month high of $111.44.

On the call, CEO Alessandro Bogliolo admitted its performance was "frankly, better than we expected", prompting the company to raise sales guidance for the year.

The company is also amping up its marketing under Bogliolo. If the $124.03 price target is reached, the company will be worth $593.92 million more. Jefferies Group raised their price objective on Tiffany & Co. from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, November 14th. Finally, Guggenheim reissued a "buy" rating on shares of Tiffany & a research note on Thursday, April 5th.

Shares of Tiffany & Co. opened at $102.24 on Wednesday, MarketBeat reports. They issued a "hold" rating and a $103.00 price target on the stock.

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Among 18 analysts covering Fresnillo PLC (LON:FRES), 8 have Buy rating, 0 Sell and 10 Hold. Tiffany & Co. presently has a consensus rating of Buy and an average target price of $108.06.

Tiffany said United States sales benefited from more tourists shopping in America. (NYSE:TIF) rating on Tuesday, August 15. The shares jumped 7.8 per cent in early trading. Tiffany & Co. The firm's 50-day moving average price is $80.11 and its 200-day moving average price is $71.58. The stock has a market cap of $12.84 billion, a PE ratio of 25.00, a P/E/G ratio of 2.11 and a beta of 1.75. It was the same story for earnings, as the company delivered $1.14 per share, well ahead of the estimated 83 cents. Tiffany & Co. The firm's revenue for the quarter was up 8.5% compared to the same quarter previous year. During the same quarter in the prior year, the business posted $0.74 EPS. This represents a $1.80 dividend on an annualized basis and a yield of 2.34%. The company's board has approved a share buyback program of up to $1.0 billion, he said. The shares were sold at an average price of $104.11, for a total transaction of $4,144,514.99. Also, Director Michael Joseph Kowalski sold 39,809 shares of the business's stock in a transaction on Friday, February 23rd. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Signet, the company that owns Jared, Kay and Zale and is traditionally a big advertiser on TV, has plunged 30% over the past year due to weak sales and a probe of its in-store credit practices and promotions by the Consumer Financial Protection Bureau.

The strong numbers stand in stark contrast to soft results of more recent quarters, including the holiday period.

Watch Tiffany & Co trade in real-time here. Pacer Advisors Inc. increased its stake in shares of Tiffany & 9.9% in the second quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Tiffany & 73.7% in the fourth quarter. Institutional investors own 81.49% of the company's stock. Typically companies that endure an extended period of reduction in earnings are undergoing some sort of reinvestment phase Though if the whole industry is struggling to grow over time, it may be a signal of a structural shift, which makes Tiffany and its peers a higher risk investment. Scanning growth from a sector-level, the U.S. specialty retail industry has been growing, albeit, at a unexciting single-digit rate of 4.58% over the previous twelve months, and 6.34% over the previous five years.

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