Telsey Advisory Group Reaffirms “Market Perform” Rating for Signet Jewelers (NYSE:SIG)

Signet Jewelers (NYSE:SIG)‘s stock had its “market perform” rating reaffirmed by stock analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $87.00 target price on the stock. Telsey Advisory Group’s price target would indicate a potential downside of 5.23% from the stock’s current price.

Several other brokerages have also commented on SIG. Wells Fargo & Company lifted their price objective on Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded Signet Jewelers from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. UBS Group lowered their price objective on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Bank of America dropped their price objective on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Signet Jewelers presently has a consensus rating of “Moderate Buy” and an average price target of $109.60.

Signet Jewelers Stock Performance

Shares of NYSE:SIG opened at $91.80 on Thursday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 1.11 and a beta of 2.10. The business has a 50-day simple moving average of $96.90 and a two-hundred day simple moving average of $91.55. Signet Jewelers has a fifty-two week low of $72.26 and a fifty-two week high of $112.06.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, research analysts predict that Signet Jewelers will post 10.8 earnings per share for the current year.

Insider Activity at Signet Jewelers

In other news, insider Rebecca Wooters sold 22,151 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $99.00, for a total value of $2,192,949.00. Following the completion of the transaction, the insider now owns 68,343 shares of the company’s stock, valued at $6,765,957. This represents a 24.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Virginia Drosos sold 3,475 shares of Signet Jewelers stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $101.67, for a total value of $353,303.25. Following the sale, the chief executive officer now directly owns 775,345 shares in the company, valued at $78,829,326.15. This trade represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,957 shares of company stock worth $4,599,306. 3.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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