NEW YORK (

TheStreet

) --

Tiffany

(NYSE:

TIF

) hit a new 52-week high Thursday as it is currently trading at $70.31, above its previous 52-week high of $70.26 with 601,060 shares traded as of 1:32 p.m. ET. Average volume has been 1.9 million shares over the past 30 days.

Tiffany has a market cap of $8.7 billion and is part of the

services

sector and

specialty retail

industry. Shares are up 12.6% year to date as of the close of trading on Wednesday.

Tiffany & Co., through its subsidiaries, engages in the design, manufacture, and retail of fine jewelry. Its jewelry products include gemstone jewelry, gemstone band rings, diamond rings, wedding bands for brides and grooms, non-gemstone, gold or platinum jewelry, and sterling silver jewelry. The company has a P/E ratio of 23.5, below the average specialty retail industry P/E ratio of 23.9 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Tiffany as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

Tiffany Ratings Report

.

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