After Loop Capital Markets and Oppenheimer assigned a Buy rating to Tiffany & Co in the last month, the company received another Buy, this time from Guggenheim. Analyst Robert Drbul maintained a Buy rating on Tiffany & Co (NYSE: TIF) today. The company’s shares closed yesterday at $101.68.
Drbul said:
“We believe one of the key challenges of the prior leadership regime had been lack of newness, and following the successful, buzz-creating home and accessories launch, we are encouraged by the next wave of new and innovative product in the all important jewelry category (91% of sales). We are optimistic innovation will drive improvement in the top-line, following sequential comp improvement in recent quarters (Exhibit 2). We remain BUY-rated with a $120 PT. Tiffany’s first new jewelry collection under Chief Artistic Officer Reed Krakoff launched on Tuesday (5/1): Paper Flowers. The collection delivers newness and excitement across different, elevated price points within the jewelry category and is focused on platinum and diamonds. Per the company’s website, the Paper Flowers collection is ‘inspired by petals scattered by the wind and delicately pinned back together’ and ‘reinterprets nature’s most essential forms.’ Please refer to Exhibit 1 (p.”
According to TipRanks.com, Drbul is a 5-star analyst with an average return of 14.8% and a 77.3% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Lululemon Athletica Inc, and Ascena Retail Group.
Tiffany & Co has an analyst consensus of Strong Buy, with a price target consensus of $117.
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Tiffany & Co’s market cap is currently $12.66B and has a P/E ratio of 34.35. The company has a book value ratio of 3.9151.
Based on the recent corporate insider activity of 72 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.
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.