Tiffany & Co. (NYSE: TIF) shares rose in value on Friday, January 13 on heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.
U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.
The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.
Analysts at Wells Fargo & Company upgraded shares of Tiffany & Co. (NYSE: TIF) from Underperform to Market Perform today. The company currently has a rating of Market Perform on the shares. A number of other analysts have issued reports on the stock in recent days, and Tiffany & Co. has secured a consensus one-year price target of $84.91, above the opening price of $81.93, a difference of 10.36 percent. Tiffany & Co. stock has a 52-week high of $85.44. Share prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Tiffany & Co. (NYSE: TIF) opened at $81.93 yesterday and traded in a range between, $81.23 and $83.28, and last traded at $81.92, an increase of $1.37 over the previous closing price.
Tiffany & Co. (NYSE: TIF) currently has a market cap of 10.20B.
Tiffany & Co. (NYSE: TIF) Average Daily Trading Volume
2,879,236 shares traded hands yesterday, 67 percent above the norm, out of a total float 123,624,000. higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
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 tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Tiffany & Co. (NYSE: TIF) have ranged from $56.99 – 85.44, and the stock now has a 50-day MA of $80.24 and 200-day MA of $71.99. Today’s last price is 4.12%% lower than the 52 week high of $85.44.
Earnings growth is a critical factor to look at when buying stocks and investors look for companies that have increased their earnings at least 25% or more for a 3 year period.
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