Needham analyst Rick Patel assigned a Hold rating to Tiffany & Co (TIF) today. The company’s shares closed last Tuesday at $131.51, close to its 52-week high of $134.42.
According to TipRanks.com, Patel is a 4-star analyst with an average return of 11.0% and a 47.2% success rate. Patel covers the Consumer Goods sector, focusing on stocks such as Lululemon Athletica, G-III Apparel Group, and Columbia Sportswear.
The word on The Street in general, suggests a Hold analyst consensus rating for Tiffany & Co with a $127.38 average price target.
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Based on Tiffany & Co’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $747 million and net profit of $31.9 million. In comparison, last year the company earned revenue of $1.05 billion and had a net profit of $136 million.
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Tiffany & Co. is a holding company, which engages in product design, manufacturing, and retailing through its subsidiaries. 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. The Americas segment includes in U.S., Canada, Mexico, Brazil, and Chile. The Asia-Pacific segment consists of China, Korea, Australia, Hong Kong, Taiwan, Singapore, Macau, Malaysia, New Zealand, and Thailand. The Japan segment comprises of 50 stores located within department stores. The Europe segment caters to the United Kingdom, Italy, Germany, France, Spain, Switzerland, the Netherlands, Austria, Belgium, the Czech Republic, Ireland, and Russia. The Other segment covers retail sales and wholesale distribution in the emerging markets region, wholesale of diamonds, and licensing agreements. The company was founded in 1837 and is headquartered in New York, NY.
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