Brokerages Set Signet Jewelers Limited (NYSE:SIG) Price Target at $95.20

Signet Jewelers Limited (NYSE:SIG) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $95.20.

SIG has been the subject of a number of recent research reports. Telsey Advisory Group reduced their price objective on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company cut their target price on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Bank of America cut their price objective on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th.

Insider Activity

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $54.13, for a total transaction of $180,415.29. Following the transaction, the director now owns 22,752 shares in the company, valued at $1,231,565.76. This trade represents a 12.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new position in Signet Jewelers during the third quarter valued at $25,000. Smartleaf Asset Management LLC lifted its stake in Signet Jewelers by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock valued at $57,000 after buying an additional 421 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Signet Jewelers in the 3rd quarter worth about $77,000. Sterling Capital Management LLC increased its stake in Signet Jewelers by 832.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock worth $110,000 after buying an additional 1,216 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Signet Jewelers by 32.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock valued at $123,000 after acquiring an additional 410 shares during the last quarter.

Signet Jewelers Stock Performance

Shares of Signet Jewelers stock opened at $50.13 on Wednesday. Signet Jewelers has a 12 month low of $46.66 and a 12 month high of $112.06. The stock’s fifty day moving average price is $60.57 and its 200-day moving average price is $80.65. The firm has a market cap of $2.18 billion, a P/E ratio of 5.77, a P/E/G ratio of 3.43 and a beta of 2.20. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. Signet Jewelers’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. On average, equities research analysts expect that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

About Signet Jewelers

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.