Signet Jewelers (NYSE:SIG) Downgraded by StockNews.com to “Hold”

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

A number of other equities analysts have also recently commented on SIG. Bank of America reduced their price objective on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. UBS Group cut their price objective on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Citigroup reaffirmed a “buy” rating and set a $119.00 price objective on shares of Signet Jewelers in a research report on Friday, June 14th. Wells Fargo & Company cut their price objective 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. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $87.00 price objective on shares of Signet Jewelers in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.60.

Signet Jewelers Stock Down 0.3 %

Signet Jewelers stock traded down $0.28 during midday trading on Wednesday, hitting $94.71. 1,038,926 shares of the stock were exchanged, compared to its average volume of 816,860. The company has a fifty day simple moving average of $84.16 and a two-hundred day simple moving average of $91.99. Signet Jewelers has a 52 week low of $65.12 and a 52 week high of $112.06. The stock has a market capitalization of $4.17 billion, a PE ratio of 7.70, a P/E/G ratio of 1.14 and a beta of 2.10.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company posted $1.55 EPS. The business’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, equities research analysts anticipate that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Insider Activity

In other news, insider Mary Elizabeth Finn sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $86.94, for a total value of $695,520.00. Following the completion of the transaction, the insider now owns 54,821 shares of the company’s stock, valued at $4,766,137.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Signet Jewelers news, insider Mary Elizabeth Finn sold 8,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $86.94, for a total transaction of $695,520.00. Following the transaction, the insider now directly owns 54,821 shares in the company, valued at approximately $4,766,137.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value 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 75,828 shares of company stock valued at $6,698,021 over the last quarter. 3.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of large investors have recently modified their holdings of the company. Lazard Asset Management LLC raised its position in Signet Jewelers by 6.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after buying an additional 116 shares during the last quarter. Blue Trust Inc. raised its position in 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 buying an additional 122 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Signet Jewelers by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 10,405 shares of the company’s stock valued at $932,000 after buying an additional 144 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Signet Jewelers by 5.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock valued at $303,000 after buying an additional 156 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its position in 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 buying an additional 175 shares during 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.