Tiffany & Co. (NYSE: TIF) shares rose on Wednesday Nov 30 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
Tiffany & Co. (NYSE: TIF) had its price target raised by equities researchers at Telsey Advisory Group from $83.00 to $93.00. With a rating of Outperform on the shares, Tiffany & Co. has a 52-week high of $84.92. As a means of comparison, a number of other analysts have issued reports on the company in recent days, and Tiffany & Co. has secured a consensus one-year price target of $79.40, lower than the opening price of $80.70.
Shares of Tiffany & Co. (NYSE: TIF) opened at $80.70 on Tuesday trading between $80.62 and $84.92, and last traded at $84.03, which is an increase of $3.43 or 4.26% from the previous closing price.
Tiffany & Co. (NYSE: TIF) now has a market cap of 10.49B.
Tiffany & Co. (NYSE: TIF) Average Daily Trading Volume
1,081,237 shares traded hands yesterday, lower than the average, out of a total float 124,062,000. Swing traders often use swings in trading volume to pinpoint substantial volume accumulation or circulation by institutional investors, so look for trading volume to pick up in the coming days.
However, a single day of significant buy side trading is not enough to affirm a trend. So market traders will continue to watch for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts researching thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re researching.
Tiffany & Co. (NYSE: TIF) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Tiffany & Co. (NYSE: TIF) now has a 50-day MA of $74.94 and 200-day MA of $67.93. It has traded in a 52-week range between $56.99 – 84.92 and today’s last price is 1.05%% lower than the 52 week high of $84.92.
Earnings growth is a critical factor to consider when investing in stocks and investors look for companies that have raised their earnings by at least 25% over a 3 year period.
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