Signet Jewelers (NYSE:SIG – Get Rating) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other equities research analysts have also commented on SIG. Telsey Advisory Group boosted their target price on shares of Signet Jewelers from $75.00 to $85.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 19th. Citigroup decreased their price objective on shares of Signet Jewelers from $82.00 to $68.00 in a report on Friday. UBS Group upped their price objective on Signet Jewelers from $92.00 to $98.00 in a research report on Friday, March 17th. Wells Fargo & Company reduced their price objective on Signet Jewelers from $100.00 to $95.00 in a research report on Friday. Finally, Bank of America reduced their price objective on Signet Jewelers from $88.00 to $71.00 in a research report on Friday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.40.
Signet Jewelers Stock Performance
Shares of NYSE SIG traded down $2.21 during midday trading on Friday, reaching $59.90. 1,925,930 shares of the company were exchanged, compared to its average volume of 792,029. The stock has a fifty day simple moving average of $71.33 and a 200 day simple moving average of $71.60. Signet Jewelers has a 1 year low of $50.84 and a 1 year high of $83.42. The company has a current ratio of 1.56, a quick ratio of 0.60 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.71 billion, a P/E ratio of 9.49, a PEG ratio of 0.78 and a beta of 2.14.
Signet Jewelers (NYSE:SIG – Get Rating) last posted its quarterly earnings data on Thursday, June 8th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.29. Signet Jewelers had a net margin of 4.80% and a return on equity of 46.64%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the firm posted $2.86 EPS. Signet Jewelers’s quarterly revenue was down 9.3% on a year-over-year basis. On average, research analysts forecast that Signet Jewelers will post 11.18 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Signet Jewelers news, insider Jamie Singleton sold 17,500 shares of the stock in a transaction that occurred on Wednesday, April 19th. The shares were sold at an average price of $80.00, for a total transaction of $1,400,000.00. Following the transaction, the insider now owns 211,056 shares of the company’s stock, valued at $16,884,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Virginia Drosos sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $74.95, for a total value of $749,500.00. Following the transaction, the chief executive officer now directly owns 1,121,563 shares in the company, valued at approximately $84,061,146.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jamie Singleton sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $80.00, for a total value of $1,400,000.00. Following the completion of the transaction, the insider now owns 211,056 shares in the company, valued at $16,884,480. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,693 shares of company stock worth $5,231,135. 4.54% of the stock is owned by company insiders.
Hedge Funds Weigh In On Signet Jewelers
Hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC raised its stake in shares of Signet Jewelers by 14.7% in the 4th quarter. ProShare Advisors LLC now owns 7,241 shares of the company’s stock valued at $492,000 after acquiring an additional 926 shares during the period. Archer Investment Corp raised its holdings in shares of Signet Jewelers by 28.6% during the 4th quarter. Archer Investment Corp now owns 900 shares of the company’s stock valued at $61,000 after buying an additional 200 shares during the period. Cipher Capital LP purchased a new stake in shares of Signet Jewelers during the 4th quarter valued at about $1,279,000. AXA S.A. raised its holdings in shares of Signet Jewelers by 21.3% during the 3rd quarter. AXA S.A. now owns 58,050 shares of the company’s stock valued at $3,320,000 after buying an additional 10,200 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Signet Jewelers by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,388,543 shares of the company’s stock valued at $136,597,000 after buying an additional 13,848 shares during the period. Hedge funds and other institutional investors own 97.88% of the company’s stock.
About Signet Jewelers
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Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segments: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H.
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