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.