Guggenheim analyst Robert Drbul maintained a Buy rating on Tiffany & Co (TIF) today and set a price target of $115. The company’s shares opened today at $97.84.
Drbul noted:
“We remain BUY-rated as we believe TIF’s top-line should benefit from the ongoing investments and as the pace of product innovation happens more frequently. We also see meaningful op. margin expansion opportunity as TIF focuses on costs throughout the business. As such, we increase our PT to $115 from $110. TIF’s key strategic priorities remain 1) amplify an evolved brand message, 2) renew product offerings and enhance in-store presentations, 3) deliver an exciting omnichannel experience, 4) strengthen TIF’s competitive position and lead in key markets, 5) cultivate a more efficient operating model, and finally (and possibly most importantly), 6) inspire an aligned and agile organization.”
According to TipRanks.com, Drbul is a 5-star analyst with an average return of 10.9% and a 68.0% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Capri Holdings Limited, and Ascena Retail Group.
Currently, the analyst consensus on Tiffany & Co is a Moderate Buy with an average price target of $105.30, representing a 7.6% upside. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $115 price target.
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Based on Tiffany & Co’s latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of $94.9 million. In comparison, last year the company had a net profit of $61.9 million.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TIF in relation to earlier this year. Earlier this month, William Shutzer, a Director at TIF bought 4,717 shares for a total of $123,114.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Tiffany & Co. is a holding company, which through its subsidiaries, engages in manufacture and sale of jewelry merchandise. The firm also sells timepieces, leather goods, sterling silver goods, china, crystal, stationery, fragrances, and accessories. It operates through the following geographical segments: Americas, Asia-Pacific, Japan, Europe, and Other.
