Signet Jewelers (NYSE:SIG) Rating Lowered to Hold at StockNews.com

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 on Friday.

SIG has been the topic of several other research reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $87.00 target price on shares of Signet Jewelers in a research report on Thursday. UBS Group reduced their price target on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Wells Fargo & Company increased their price target on Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Bank of America reduced their target price on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Signet Jewelers currently has an average rating of “Moderate Buy” and a consensus target price of $109.60.

Signet Jewelers Stock Up 5.6 %

SIG stock opened at $91.80 on Friday. The company has a market cap of $4.04 billion, a P/E ratio of 10.56, a PEG ratio of 1.12 and a beta of 2.10. Signet Jewelers has a twelve month low of $72.26 and a twelve month high of $112.06. The business has a fifty day moving average of $96.90 and a 200-day moving average of $91.49.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last 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, equities research analysts anticipate that Signet Jewelers will post 10.78 earnings per share for the current fiscal year.

Insider Transactions at Signet Jewelers

In related news, insider Rebecca Wooters sold 22,151 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $99.00, for a total transaction of $2,192,949.00. Following the completion of the sale, the insider now owns 68,343 shares of the company’s stock, valued at $6,765,957. This trade represents a 24.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 26,085 shares of the company’s stock, valued at $2,598,848.55. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,957 shares of company stock worth $4,599,306. Company insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new position in shares of Signet Jewelers during the 3rd quarter worth about $25,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Signet Jewelers in the 2nd quarter worth approximately $51,000. Hexagon Capital Partners LLC lifted its position in shares of Signet Jewelers by 33.4% in the 2nd 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 period. Erste Asset Management GmbH purchased a new stake in shares of Signet Jewelers in the 3rd quarter worth approximately $77,000. Finally, Blue Trust Inc. lifted its position 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 purchasing an additional 122 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.