Signet Jewelers (NYSE:SIG) Rating Increased to Buy at StockNews.com

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

A number of other brokerages have also recently commented on SIG. Bank of America dropped their target price on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, September 13th. UBS Group dropped their price objective on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. 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 report on Wednesday, October 23rd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $87.00 target price on shares of Signet Jewelers in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.60.

Signet Jewelers Trading Down 2.1 %

SIG traded down $2.11 on Thursday, hitting $99.98. 922,088 shares of the company’s stock traded hands, compared to its average volume of 809,407. The company’s 50 day simple moving average is $97.17 and its 200-day simple moving average is $91.67. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.18 and a beta of 2.12. Signet Jewelers has a one year low of $72.26 and a one year high of $112.06.

Signet Jewelers (NYSE:SIG) last issued 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. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the company earned $1.55 EPS. As a group, equities analysts anticipate that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, insider Rebecca Wooters sold 22,151 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $99.00, for a total transaction of $2,192,949.00. Following the sale, the insider now owns 68,343 shares in the company, valued at approximately $6,765,957. The trade was a 24.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Elizabeth Finn sold 3,763 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $92.32, for a total value of $347,400.16. Following the sale, the insider now owns 43,058 shares in the company, valued at approximately $3,975,114.56. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,957 shares of company stock valued at $4,599,306 in the last ninety days. Corporate insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

Several large investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management grew its stake in Signet Jewelers by 4.9% during the 3rd quarter. Ritholtz Wealth Management now owns 2,459 shares of the company’s stock valued at $254,000 after purchasing an additional 115 shares during the last quarter. Lazard Asset Management LLC grew its stake in Signet Jewelers by 6.8% during the 1st quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after purchasing an additional 116 shares during the last quarter. Blue Trust Inc. grew its stake in Signet Jewelers by 15.3% during the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after purchasing an additional 122 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Signet Jewelers by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 10,405 shares of the company’s stock valued at $932,000 after purchasing an additional 144 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake 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 buying an additional 175 shares during the last quarter.

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.