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

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

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

Signet Jewelers Price Performance

SIG opened at $91.70 on Wednesday. The business’s 50-day moving average is $92.20 and its two-hundred day moving average is $91.59. Signet Jewelers has a 1 year low of $68.15 and a 1 year high of $112.06. The firm has a market capitalization of $4.04 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.04 and a beta of 2.12.

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

Insider Buying and Selling

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $99.63, for a total value of $332,066.79. Following the completion of the transaction, the director now directly owns 26,085 shares of the company’s stock, valued at approximately $2,598,848.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $94.57, for a total value of $756,560.00. Following the completion of the sale, the insider now directly owns 200,844 shares in the company, valued at $18,993,817.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eugenia Ulasewicz sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $99.63, for a total value of $332,066.79. Following the completion of the sale, the director now owns 26,085 shares of the company’s stock, valued at $2,598,848.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,957 shares of company stock valued at $5,910,256 over the last quarter. 3.26% of the stock is currently owned by company insiders.

Institutional Trading of Signet Jewelers

Institutional investors and hedge funds have recently made changes to their positions in the business. MidWestOne Financial Group Inc. increased its position in shares of Signet Jewelers by 63.3% in the second quarter. MidWestOne Financial Group Inc. now owns 16,974 shares of the company’s stock valued at $1,521,000 after buying an additional 6,579 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Signet Jewelers during the first quarter worth approximately $1,093,000. Illinois Municipal Retirement Fund increased its position in shares of Signet Jewelers by 97.3% during the first quarter. Illinois Municipal Retirement Fund now owns 45,593 shares of the company’s stock worth $4,562,000 after purchasing an additional 22,482 shares in the last quarter. Boston Partners purchased a new stake in shares of Signet Jewelers during the first quarter worth approximately $1,088,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Signet Jewelers by 209.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 25,092 shares of the company’s stock worth $2,511,000 after purchasing an additional 16,990 shares in the last quarter.

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.