Telsey Advisory Group Reiterates Market Perform Rating for Signet Jewelers (NYSE:SIG)

Signet Jewelers (NYSE:SIG)‘s stock had its “market perform” rating reissued by equities researchers at Telsey Advisory Group in a note issued to investors on Wednesday,Benzinga reports. They currently have a $87.00 price objective on the stock. Telsey Advisory Group’s target price indicates a potential downside of 12.98% from the stock’s current price.

A number of other brokerages have also recently weighed in on SIG. Bank of America dropped their price objective on 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 raised their price target on Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group reduced their price target on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, StockNews.com cut Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.60.

Signet Jewelers Stock Performance

Shares of Signet Jewelers stock opened at $99.98 on Wednesday. The business’s 50 day moving average price is $97.17 and its 200 day moving average price is $91.67. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.18 and a beta of 2.12. Signet Jewelers has a one year low of $72.26 and a one year high of $112.06.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, beating 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 analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company posted $1.55 EPS. The company’s revenue was down 7.6% compared to the same quarter last year. On average, analysts predict that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mary Elizabeth Finn sold 3,763 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 43,058 shares in the company, valued at approximately $3,975,114.56. This represents a 8.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction on Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the completion of the sale, the director now owns 26,085 shares of the company’s stock, valued at approximately $2,598,848.55. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,957 shares of company stock worth $4,599,306 over the last three months. 3.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new position in Signet Jewelers in the third quarter worth about $25,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Signet Jewelers during the 2nd quarter valued at approximately $51,000. Hexagon Capital Partners LLC lifted its stake in Signet Jewelers by 33.4% during the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock worth $63,000 after purchasing an additional 175 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Signet Jewelers in the third quarter valued at approximately $77,000. Finally, Blue Trust Inc. increased its holdings in shares of Signet Jewelers by 15.3% in the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after acquiring an additional 122 shares during the period.

About Signet Jewelers

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.