Signet Jewelers (NYSE:SIG) Upgraded at StockNews.com

by · The Cerbat Gem

Signet Jewelers (NYSE:SIG – Get Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company decreased their target price on Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Telsey Advisory Group reiterated a “market perform” rating and set a $87.00 target price on shares of Signet Jewelers in a report on Wednesday, October 2nd. Bank of America dropped their price objective on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Citigroup restated a “buy” rating and issued a $119.00 price objective on shares of Signet Jewelers in a research note on Friday, June 14th. Finally, UBS Group dropped their price objective on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.60.

Check Out Our Latest Report on SIG

Signet Jewelers Stock Down 1.9 %

Shares of Signet Jewelers stock traded down $1.86 during trading on Thursday, reaching $96.72. 1,057,931 shares of the company were exchanged, compared to its average volume of 820,833. Signet Jewelers has a twelve month low of $67.18 and a twelve month high of $112.06. The business has a 50-day moving average price of $85.89 and a 200-day moving average price of $92.14. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 1.07 and a beta of 2.10.

Signet Jewelers (NYSE:SIG – Get Free Report) last announced its quarterly earnings data on Thursday, September 12th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Insider Activity

In related news, CEO Virginia Drosos sold 3,475 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $101.67, for a total transaction of $353,303.25. Following the sale, the chief executive officer now owns 775,345 shares of the company’s stock, valued at $78,829,326.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Mary Elizabeth Finn sold 8,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $86.94, for a total transaction of $695,520.00. Following the sale, the insider now owns 54,821 shares of the company’s stock, valued at $4,766,137.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Virginia Drosos sold 3,475 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $101.67, for a total value of $353,303.25. Following the completion of the transaction, the chief executive officer now owns 775,345 shares of the company’s stock, valued at $78,829,326.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,892 shares of company stock valued at $6,536,982. 3.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. bought a new position in shares of Signet Jewelers in the 2nd quarter valued at $51,000. Hexagon Capital Partners LLC lifted its stake in shares of Signet Jewelers by 33.4% in the 2nd quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock valued at $63,000 after acquiring an additional 175 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Signet Jewelers by 15.3% in the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after acquiring an additional 122 shares during the last quarter. CWM LLC lifted its stake in shares of Signet Jewelers by 177.3% in the 3rd quarter. CWM LLC now owns 1,148 shares of the company’s stock valued at $118,000 after acquiring an additional 734 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Signet Jewelers by 6.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after acquiring an additional 116 shares during the last quarter.

About Signet Jewelers

(Get Free Report)

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.

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