Signet Jewelers (NYSE:SIG) Rating Lowered to “Hold” at StockNews.com

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

SIG has been the topic of a number of other research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $87.00 price target on shares of Signet Jewelers in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group decreased their price target on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Bank of America lowered their price target on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.60.

Signet Jewelers Price Performance

Shares of SIG opened at $98.04 on Wednesday. Signet Jewelers has a 12 month low of $68.15 and a 12 month high of $112.06. The stock has a fifty day moving average price of $92.94 and a 200 day moving average price of $91.65. The company has a market cap of $4.32 billion, a P/E ratio of 11.35, a PEG ratio of 1.03 and a beta of 2.12.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The company’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 earnings per share. As a group, research analysts anticipate that Signet Jewelers will post 10.8 earnings per share for the current year.

Insider Activity

In related news, CEO Virginia Drosos sold 600 shares of Signet Jewelers stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $101.25, for a total transaction of $60,750.00. Following the transaction, the chief executive officer now directly owns 728,220 shares of the company’s stock, valued at $73,732,275. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Signet Jewelers news, CEO Virginia Drosos sold 600 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $101.25, for a total transaction of $60,750.00. Following the sale, the chief executive officer now owns 728,220 shares in the company, valued at approximately $73,732,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Oded Edelman sold 1,398 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $94.53, for a total value of $132,152.94. Following the transaction, the insider now directly owns 32,666 shares in the company, valued at $3,087,916.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,957 shares of company stock worth $5,910,256 over the last 90 days. 3.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in Signet Jewelers during the third quarter valued at about $25,000. Brown Brothers Harriman & Co. acquired a new position in shares of Signet Jewelers during the second quarter worth approximately $51,000. Hexagon Capital Partners LLC boosted its position in 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 buying an additional 175 shares during the last quarter. Blue Trust Inc. increased its position in Signet Jewelers by 15.3% in the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after purchasing an additional 122 shares during the period. Finally, CWM LLC grew its position in shares of Signet Jewelers by 177.3% during the 3rd quarter. CWM LLC now owns 1,148 shares of the company’s stock worth $118,000 after buying an additional 734 shares during the period.

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.