Signet Jewelers (NYSE:SIG) PT Raised to $110.00

Signet Jewelers (NYSE:SIG) had its target price boosted by Wells Fargo & Company from $105.00 to $110.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 18.48% from the company’s previous close.

SIG has been the subject of several other reports. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Monday. UBS Group cut their target price on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Bank of America decreased 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. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $87.00 price objective on shares of Signet Jewelers in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $109.60.

Signet Jewelers Stock Down 0.8 %

Shares of SIG opened at $92.84 on Wednesday. Signet Jewelers has a 12 month low of $67.18 and a 12 month high of $112.06. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 1.08 and a beta of 2.10. The company has a 50-day moving average price of $90.32 and a two-hundred day moving average price of $91.98.

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

Insiders Place Their Bets

In related news, CEO Virginia Drosos sold 600 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $101.25, for a total value of $60,750.00. Following the completion of the sale, the chief executive officer now directly owns 728,220 shares in the company, valued at $73,732,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Signet Jewelers news, insider Oded Edelman sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $74.55, for a total transaction of $670,950.00. Following the completion of the transaction, the insider now owns 28,398 shares of the company’s stock, valued at approximately $2,117,070.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Virginia Drosos sold 600 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $101.25, for a total transaction of $60,750.00. Following the completion of the transaction, the chief executive officer now directly owns 728,220 shares of the company’s stock, valued at approximately $73,732,275. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,957 shares of company stock worth $5,910,256 over the last three months. Insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Select Equity Group L.P. boosted its holdings in Signet Jewelers by 2.9% in the second quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock valued at $622,562,000 after acquiring an additional 193,977 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Signet Jewelers by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock valued at $213,809,000 after purchasing an additional 149,934 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Signet Jewelers by 6.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock valued at $185,347,000 after purchasing an additional 126,726 shares during the last quarter. Eminence Capital LP boosted its stake in shares of Signet Jewelers by 71.3% in the 2nd quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock valued at $75,644,000 after purchasing an additional 351,588 shares during the last quarter. Finally, Anomaly Capital Management LP raised its stake in Signet Jewelers by 12.4% during the second quarter. Anomaly Capital Management LP now owns 691,451 shares of the company’s stock worth $61,940,000 after buying an additional 76,534 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.