Tiffany & Co has a Consensus Rating of “Buy”

Tiffany & Co which is a holding company that operates through a number of subsidiary companies was given a hold rating by KeyCorp. Prior to this, it has given a hold rating to Tiffany and in its recent research report to its investors, KeyCorp reaffirmed its rating.

The other brokerage firms are also giving either buy or hold rating to Tiffany & Co. since the company posted its quarterly earnings on August 24th. Back then the specialty retailer has come up with an EPS of $0.92 for the quarter beating the analysts’ estimates by $0.06.

Those brokerage houses that have given a ‘hold’ rating include Royal Bank of Canada and Needham & Company LLC. The ones who have given a ‘buy’ rating are Bank of America Corporation with a target price of $110.00 a share, Oppenheimer Holdings, Inc, BidaskClub actually raised its ratings from ‘buy’ to “strong buy.”

Eleven analysts have given a ‘hold’ rating and eleven others are in favour of a buy. Currently, the stock has a consensus rating of “Buy” and the average target price is  $94.91.

Some of the institutional investors and the Hedge funds have recently made some changes to their positions in Tiffany. While the Swiss National Bank increased its holdings, Voya Investment Management LLC actually lowered its stake by 3.3% in Tiffany & Co in the Q2. It now holds 58,607 shares after parting with 1,993 shares during the second quarter.

As the company operates through its subsidiary companies, its main subsidiary is Tiffany which is a specialty retailer and a jeweller. The company’s operations are in different parts of the world including countries like Japan, Asia-Pacific, America.

Luxury Market Shifting by Tiffany and Co.

The past two years of Tiffany and Co. have not been good. Their sales had been experiencing a dip and now the company is making new efforts to overcome their sale crisis. In order to revitalize the company’s top line, a new Chief Executive Officer was deployed in early October. The new CEO is Alessandro Bogliolo.

The Cast of the Industry Focus

Consumer goods are still involved in discussions pertaining to the hurdles, challenges and opportunities of the company. Every specific initiative taken by Tiffany and Co. is being properly examined so that it can attract a new business in the luxury market, which is targeted at high end customers.

Many experts believe that the reason why Tiffany and Co. is not able to increase its former heights is because the customers are not that interested in diamonds any more. Sustainability, sourcing and environmental concerns are the thoughts that are flooding the minds of people and their liking for diamonds and other precious stones seems to be decreasing.

According to various researchers, if Tiffany and Co. wants to get back on track, then it is supposed to regain the trust and loyalty of its customers. It is supposed to make the customers believe that whatever diamonds they sell have the best aesthetic beauty and they are responsibly sourced. This way, they can build their brand image again and attract more customers.

Since Tiffany and Co. is a trademark and juggernaut when it comes to diamonds and precious stones in the luxury market, it looks like the company will achieve its targets and objectives in the longer run. The younger generation, as of now, is not appreciating luxury jewellery, but they are going to do so in the time to come.

Moreover, Tiffany and Co. has decided to expand its product variety of watches and other accessories so that it can attract some part of youth population also.

Good News: Iconic Jewellery Brand Tiffany & Co will be Shortly Launched at Bullring, Birmingham

One of the most loved iconic jewelry brands, Tiffany & Co has recently announced to launch its new store in Birmingham. It is likely to start operating from 16th of November.

The boutique will be located at the fourth floor of Selfridges store and will be equipped with latest collections of jewellery and watches. Under one roof customers can grab products from Tiffany T range, Fleur de Lis, East West watches, CT60 and Tiffany City HardWear collections.

It is also being said that Hollywood star, Audrey Hepburn, will be a part of the opening ceremony at this new outlet. In fact, Audrey is often associated with Tiffany & Co.

For those who don’t know, Tiffany is one of the oldest American brands which has around 175 years of history. The first outlet was opened in the UK in the year 1986.

With this launch the count will reach to eleventh in the country, while it is going to be third in number for Selfridges. Selfridges London and Manchester Exchange Square are the other two respective outlets.

Barratt West, Managing Director and Vice President of Tiffany & Co for the entire UK and Ireland in his speech said that he is more than excited to share this good news regarding the opening of their new boutique in Birmingham.

He further added that Birmingham is one of the fastest growing city with luxury marketplaces that carry the latest vibrant culture along with fashion. Hence customers at Bullring can also look out for other jewelry brands such as Thomas Sabo, Pandora, Goldsmith, Links of London, Omega Boutique and many more.

Coach, the most stylish fashion label of New York has recently launched its first store at Bullring which is an added advantage for customers to visit this happening place.