StockNews.com Downgrades Signet Jewelers (NYSE:SIG) to Hold

Signet Jewelers (NYSE:SIG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

SIG has been the subject of a number of other reports. UBS Group cut their price objective 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. 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 note on Friday, September 13th. Wells Fargo & Company upped their target price on shares of Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $87.00 price target on shares of Signet Jewelers in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.60.

Signet Jewelers Stock Down 0.5 %

NYSE SIG opened at $97.16 on Thursday. The firm has a market capitalization of $4.28 billion, a P/E ratio of 11.25, a PEG ratio of 1.11 and a beta of 2.12. The company has a 50-day moving average price of $95.01 and a 200-day moving average price of $91.53. Signet Jewelers has a 52 week low of $72.26 and a 52 week high of $112.06.

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

Insider Buying and Selling at Signet Jewelers

In other news, CEO Virginia Drosos sold 3,475 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $101.67, for a total value of $353,303.25. Following the completion of the sale, the chief executive officer now directly owns 775,345 shares of the company’s stock, valued at $78,829,326.15. This trade represents a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joan M. Hilson sold 8,000 shares of Signet Jewelers stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $94.57, for a total value of $756,560.00. Following the completion of the transaction, the insider now owns 200,844 shares of the company’s stock, valued at approximately $18,993,817.08. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,957 shares of company stock worth $5,239,306 in the last quarter. 3.26% of the stock is owned by corporate insiders.

Institutional Trading of Signet Jewelers

A number of institutional investors have recently bought and sold shares of SIG. Khrom Capital Management LLC bought a new stake in shares of Signet Jewelers in the 2nd quarter worth about $58,357,000. Eminence Capital LP lifted its stake in shares of Signet Jewelers by 71.3% during the 2nd quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after acquiring an additional 351,588 shares during the last quarter. Select Equity Group L.P. boosted its holdings in Signet Jewelers by 2.9% during the 2nd 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 period. Janus Henderson Group PLC lifted its position in shares of Signet Jewelers by 38.2% during the first quarter. Janus Henderson Group PLC now owns 656,005 shares of the company’s stock worth $65,646,000 after purchasing an additional 181,207 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Signet Jewelers by 6.7% during the second 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 period.

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.