Signet Jewelers (NYSE:SIG) Shares Gap Up to $6.80

Signet Jewelers Ltd. (NYSE:SIG)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $6.60, but opened at $6.80. Signet Jewelers shares last traded at $7.78, with a volume of 6,103,253 shares trading hands.

Several brokerages have recently weighed in on SIG. Wells Fargo & Co decreased their target price on shares of Signet Jewelers from $18.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, March 16th. ValuEngine upgraded shares of Signet Jewelers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 26th. Telsey Advisory Group restated a “market perform” rating on shares of Signet Jewelers in a research report on Monday, March 23rd. Citigroup reduced their price target on shares of Signet Jewelers from $9.00 to $5.00 and set a “sell” rating on the stock in a research report on Monday, March 30th. Finally, Bank of America lowered shares of Signet Jewelers from a “neutral” rating to an “underperform” rating and set a $8.00 price target on the stock. in a research report on Friday, March 27th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has a consensus rating of “Sell” and a consensus target price of $15.17.

The stock has a market capitalization of $324.02 million, a price-to-earnings ratio of 7.14, a price-to-earnings-growth ratio of 0.47 and a beta of 1.87. The company has a quick ratio of 0.50, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The stock’s 50-day simple moving average is $15.39 and its 200 day simple moving average is $18.72.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Thursday, March 26th. The company reported $3.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.47 by $0.20. Signet Jewelers had a net margin of 1.72% and a return on equity of 20.61%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the previous year, the firm posted $3.96 earnings per share. The company’s revenue was down .2% on a year-over-year basis. As a group, equities research analysts anticipate that Signet Jewelers Ltd. will post 1.64 earnings per share for the current year.

In related news, Director H. Todd Stitzer bought 12,235 shares of the company’s stock in a transaction on Friday, March 27th. The stock was bought at an average cost of $6.64 per share, with a total value of $81,240.40. Following the completion of the purchase, the director now owns 49,870 shares in the company, valued at approximately $331,136.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Oded Edelman bought 35,000 shares of the company’s stock in a transaction on Friday, March 27th. The stock was bought at an average cost of $6.64 per share, with a total value of $232,400.00. Following the completion of the purchase, the insider now owns 39,921 shares of the company’s stock, valued at approximately $265,075.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 54,735 shares of company stock valued at $363,440. Insiders own 0.96% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Signet Jewelers by 479.2% during the fourth quarter. FMR LLC now owns 1,292,207 shares of the company’s stock worth $28,092,000 after buying an additional 1,069,099 shares during the last quarter. Norges Bank bought a new stake in shares of Signet Jewelers during the fourth quarter worth approximately $17,184,000. Contrarius Investment Management Ltd raised its stake in shares of Signet Jewelers by 20.0% during the fourth quarter. Contrarius Investment Management Ltd now owns 751,652 shares of the company’s stock worth $16,341,000 after buying an additional 125,481 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Signet Jewelers by 13.0% during the fourth quarter. Geode Capital Management LLC now owns 746,471 shares of the company’s stock worth $16,228,000 after buying an additional 85,661 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Signet Jewelers by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 642,639 shares of the company’s stock worth $13,971,000 after buying an additional 20,309 shares during the last quarter.

Signet Jewelers Company Profile (NYSE:SIG)

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 02, 2019, it operated 3,334 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, Peoples Jewellers, Gordon's Jewelers, and Mappins Jewellers regional banners; and JamesAllen.com, an online jewelry retailer Website.

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