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

Signet Jewelers (NYSE:SIG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other analysts have also commented on the company. Wells Fargo & Company decreased their price objective on Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Citigroup reissued a “buy” rating and issued a $119.00 price target on shares of Signet Jewelers in a report on Friday, June 14th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $105.00 price objective on shares of Signet Jewelers in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.20.

Signet Jewelers Trading Down 3.4 %

SIG opened at $77.60 on Wednesday. Signet Jewelers has a 12 month low of $65.12 and a 12 month high of $112.06. The stock has a fifty day moving average price of $82.27 and a 200-day moving average price of $93.29. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 0.90 and a beta of 2.11.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Thursday, June 13th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.82 by $0.29. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was down 9.4% on a year-over-year basis. On average, equities research analysts forecast that Signet Jewelers will post 10.6 EPS for the current year.

Insider Transactions at Signet Jewelers

In related news, Director Eugenia Ulasewicz sold 3,334 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $87.94, for a total value of $293,191.96. Following the sale, the director now owns 29,418 shares in the company, valued at $2,587,018.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,334 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $87.94, for a total value of $293,191.96. Following the sale, the director now directly owns 29,418 shares of the company’s stock, valued at $2,587,018.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jamie Singleton sold 18,105 shares of Signet Jewelers stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $83.11, for a total value of $1,504,706.55. Following the transaction, the insider now owns 162,942 shares of the company’s stock, valued at approximately $13,542,109.62. The disclosure for this sale can be found here. Insiders sold a total of 57,439 shares of company stock worth $4,809,869 over the last three months. 3.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Signet Jewelers

Hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. purchased a new stake in Signet Jewelers during the second quarter worth $51,000. Hexagon Capital Partners LLC raised its position in shares of Signet Jewelers by 33.4% in the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock worth $63,000 after acquiring an additional 175 shares during the period. Blue Trust Inc. boosted its stake in shares of Signet Jewelers by 15.3% during the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after acquiring an additional 122 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Signet Jewelers by 55.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock valued at $164,000 after acquiring an additional 544 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of Signet Jewelers in the 2nd quarter valued at about $180,000.

Signet Jewelers Company Profile

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.