Tiffany (TIF) Stock Up in After-Hours Trading, Departs Anti-Counterfeiting Group
NEW YORK (TheStreet) -- Tiffany (TIF) - Get Report shares are climbing 0.03% to $66.37 in after-hours trading on Thursday after the high-end jeweler in an email to the International Anti-Counterfeiting Coalition (IACC) said it was leaving the organization.
This comes after the coalition admitted e-commerce giant Alibaba (BABA), angering members of the organization who expressed concerns about Alibaba's membership and ties between the coalition's presidents, Robert Barchiesi and Matthew Bassiur, the Associated Press reports.
As a result of Alibaba's admission, Gucci and Michael Kors (KORS) have also withdrawn their memberships from the group, saying Alibaba's entry provides "cover to our most dangerous and damaging adversary" at a time when many brands are considering filing lawsuits over counterfeits on the e-commerce giant's sites, the Wall Street Journal noted.
In response to these actions taken by several companies, IACC commented that it will review all of its policies and procedures to confirm that they meet the highest standards.
Separately, TheStreet Ratings currently has a "Hold" rating on the stock with a letter grade of C+.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TIF
