StockNews.com Downgrades Signet Jewelers (NYSE:SIG) to Hold

Signet Jewelers (NYSE:SIGGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other equities research analysts have also recently issued reports on SIG. Wells Fargo & Company lowered their price objective on Signet Jewelers from $140.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, April 5th. UBS Group lowered their price objective on Signet Jewelers from $138.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, June 10th. Telsey Advisory Group lowered their price objective on Signet Jewelers from $100.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, June 10th. Finally, Citigroup lowered their price objective on Signet Jewelers from $94.00 to $76.00 and set a “neutral” rating on the stock in a report on Friday, June 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Signet Jewelers has an average rating of “Hold” and a consensus target price of $94.80.

NYSE:SIG opened at $57.28 on Wednesday. Signet Jewelers has a 52 week low of $48.31 and a 52 week high of $111.92. The company has a quick ratio of 0.61, a current ratio of 1.64 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $2.66 billion, a PE ratio of 7.10, a price-to-earnings-growth ratio of 0.58 and a beta of 2.39. The stock’s 50-day moving average price is $64.77 and its 200-day moving average price is $74.74.

Signet Jewelers (NYSE:SIGGet Rating) last posted its earnings results on Thursday, June 9th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.48. Signet Jewelers had a return on equity of 52.99% and a net margin of 6.87%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the firm earned $2.23 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts expect that Signet Jewelers will post 12.47 earnings per share for the current fiscal year.

In other news, insider Oded Edelman sold 20,000 shares of Signet Jewelers stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the sale, the insider now owns 65,398 shares of the company’s stock, valued at approximately $3,676,021.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stash Ptak sold 421 shares of Signet Jewelers stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $80.00, for a total transaction of $33,680.00. The disclosure for this sale can be found here. Insiders sold a total of 50,421 shares of company stock worth $3,118,380 over the last three months. Corporate insiders own 1.76% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Spire Wealth Management increased its holdings in Signet Jewelers by 396.6% in the 4th quarter. Spire Wealth Management now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Signet Jewelers by 153.3% in the 1st quarter. Quadrant Capital Group LLC now owns 423 shares of the company’s stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in Signet Jewelers in the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC acquired a new stake in Signet Jewelers in the 4th quarter valued at approximately $34,000. Finally, First Quadrant L P CA acquired a new stake in Signet Jewelers in the 4th quarter valued at approximately $40,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Signet Jewelers Company Profile (Get Rating)

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 Jewelers, Zales Outlet, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through JamesAllen.com and Rocksbox.

Further Reading

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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