Signet Jewelers (NYSE:SIG) Stock Rating Upgraded by StockNews.com

Signet Jewelers (NYSE:SIG) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Other equities research analysts have also recently issued research reports about the stock. Bank of America lowered 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. Wells Fargo & Company raised their price target on shares of Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group dropped 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. 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Signet Jewelers presently has an average rating of “Moderate Buy” and an average price target of $109.60.

Signet Jewelers Trading Up 0.3 %

NYSE:SIG opened at $100.32 on Thursday. The stock has a market capitalization of $4.42 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.13 and a beta of 2.12. Signet Jewelers has a 1 year low of $72.26 and a 1 year high of $112.06. The firm has a 50 day moving average of $97.22 and a 200-day moving average of $91.73.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Thursday, September 12th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 EPS. As a group, analysts forecast that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In other news, CEO Virginia Drosos sold 3,475 shares of Signet Jewelers stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $101.67, for a total transaction of $353,303.25. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction on Monday, October 21st. The shares were 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 represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,957 shares of company stock valued at $4,599,306. 3.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Signet Jewelers

A number of hedge funds have recently modified their holdings of the business. Ritholtz Wealth Management grew its position in shares of Signet Jewelers by 4.9% in the 3rd quarter. Ritholtz Wealth Management now owns 2,459 shares of the company’s stock valued at $254,000 after purchasing an additional 115 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Signet Jewelers by 6.8% in the first 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 period. Blue Trust Inc. increased its position in shares of Signet Jewelers by 15.3% during the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after acquiring an additional 122 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Signet Jewelers by 1.4% during the second quarter. SummerHaven Investment Management LLC now owns 10,405 shares of the company’s stock worth $932,000 after acquiring an additional 144 shares during the period. Finally, Hexagon Capital Partners LLC lifted 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 acquiring an additional 175 shares in the last quarter.

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.