Signet Jewelers (NYSE:SIG) Upgraded by StockNews.com to “Buy”

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

SIG has been the subject of several other research reports. UBS Group dropped their price target on Signet Jewelers from $145.00 to $132.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Telsey Advisory Group lowered their price objective on shares of Signet Jewelers from $105.00 to $87.00 and set a market perform rating for the company in a research note on Monday, September 9th. Bank of America cut their price target on shares of Signet Jewelers from $108.00 to $100.00 and set a neutral rating on the stock in a report on Friday. Citigroup reiterated a buy rating and set a $119.00 target price on shares of Signet Jewelers in a report on Friday, June 14th. Finally, Wells Fargo & Company lowered their price target on shares of Signet Jewelers from $125.00 to $105.00 and set an overweight rating for the company in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $108.60.

Signet Jewelers Stock Performance

NYSE SIG opened at $91.88 on Monday. The company has a 50-day simple moving average of $81.50 and a 200 day simple moving average of $92.01. Signet Jewelers has a 52-week low of $65.12 and a 52-week high of $112.06. The company has a market capitalization of $4.10 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 0.95 and a beta of 2.10.

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 analysts’ consensus estimates of $1.14 by $0.11. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, analysts forecast that Signet Jewelers will post 10.47 EPS for the current fiscal year.

Signet Jewelers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a $0.29 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. Signet Jewelers’s dividend payout ratio is currently 9.43%.

Insider Activity

In related news, Director Eugenia Ulasewicz sold 3,334 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $87.94, for a total value of $293,191.96. Following the completion of the transaction, the director now owns 29,418 shares of the company’s stock, valued at approximately $2,587,018.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jamie Singleton sold 18,105 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $83.11, for a total value of $1,504,706.55. Following the completion of the sale, the insider now owns 162,942 shares in the company, valued at $13,542,109.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugenia Ulasewicz sold 3,334 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $87.94, for a total transaction of $293,191.96. Following the transaction, the director now owns 29,418 shares in the company, valued at $2,587,018.92. The disclosure for this sale can be found here. Insiders sold a total of 61,202 shares of company stock worth $5,157,269 over the last 90 days. Corporate insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

Institutional investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new position in shares of Signet Jewelers during the second quarter worth $51,000. Hexagon Capital Partners LLC increased its position in Signet Jewelers by 33.4% during the 2nd quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock valued at $63,000 after buying an additional 175 shares in the last quarter. Blue Trust Inc. raised its stake in Signet Jewelers by 15.3% in the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after buying an additional 122 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Signet Jewelers by 55.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock worth $164,000 after acquiring an additional 544 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Signet Jewelers in the second quarter worth about $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.