Signet Jewelers (NYSE:SIG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Signet Jewelers (NYSE:SIG) from a hold rating to a buy rating in a research note released on Monday morning.

Several other analysts have also issued reports on SIG. Wells Fargo & Company dropped their target price on Signet Jewelers from $125.00 to $105.00 and set an overweight rating on the stock in a report on Tuesday, August 27th. Telsey Advisory Group dropped their target price on Signet Jewelers from $105.00 to $87.00 and set a market perform rating on the stock in a report on Monday, September 9th. Citigroup reiterated a buy rating and set a $119.00 target price on shares of Signet Jewelers in a report on Friday, June 14th. UBS Group lowered their price target on Signet Jewelers from $145.00 to $132.00 and set a buy rating on the stock in a research report 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 research report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $108.60.

Signet Jewelers Price Performance

Shares of Signet Jewelers stock opened at $97.16 on Monday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 0.95 and a beta of 2.10. The stock’s 50-day moving average is $81.79 and its 200-day moving average is $91.96. Signet Jewelers has a one year low of $65.12 and a one year high of $112.06.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 earnings per share. On average, equities analysts expect that Signet Jewelers will post 10.47 EPS for the current year.

Signet Jewelers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, October 25th. Signet Jewelers’s dividend payout ratio is currently 9.43%.

Insider Buying and Selling

In related news, Director Eugenia Ulasewicz sold 3,334 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $87.94, for a total transaction of $293,191.96. Following the sale, the director now owns 29,418 shares of the company’s stock, valued at $2,587,018.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Signet Jewelers news, insider Mary Elizabeth Finn sold 3,763 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $92.32, for a total transaction of $347,400.16. Following the completion of the sale, the insider now directly owns 43,058 shares in the company, valued at $3,975,114.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugenia Ulasewicz sold 3,334 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $87.94, for a total value of $293,191.96. Following the sale, the director now owns 29,418 shares of the company’s stock, valued at $2,587,018.92. The disclosure for this sale can be found here. Insiders have sold 53,202 shares of company stock valued at $4,422,789 over the last 90 days. 3.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Signet Jewelers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. bought a new stake in Signet Jewelers during the second quarter worth $51,000. Hexagon Capital Partners LLC lifted its stake in shares of 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 acquiring an additional 175 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Signet Jewelers by 15.3% in the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after acquiring an additional 122 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Signet Jewelers by 55.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock valued at $164,000 after acquiring an additional 544 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Signet Jewelers in the 2nd quarter valued at $180,000.

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.