Telsey Advisory Group Has Lowered Expectations for Signet Jewelers (NYSE:SIG) Stock Price

Signet Jewelers (NYSE:SIG) had its target price cut by Telsey Advisory Group from $87.00 to $65.00 in a research report issued on Wednesday, MarketBeat.com reports. The firm currently has a “market perform” rating on the stock. Telsey Advisory Group’s target price suggests a potential upside of 14.96% from the stock’s previous close.

A number of other brokerages have also issued reports on SIG. StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their price objective 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Signet Jewelers has an average rating of “Moderate Buy” and a consensus price target of $95.20.

Signet Jewelers Stock Down 4.0 %

Shares of NYSE:SIG opened at $56.54 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $87.24 and a 200 day simple moving average of $87.61. The firm has a market cap of $2.46 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 0.95 and a beta of 2.13. Signet Jewelers has a 12-month low of $54.44 and a 12-month high of $112.06.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. On average, equities research analysts anticipate that Signet Jewelers will post 9.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the business’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 transaction, the director now owns 26,085 shares of the company’s stock, valued at approximately $2,598,848.55. The trade was a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total transaction of $756,560.00. Following the transaction, the insider now directly 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. 3.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ritholtz Wealth Management boosted its holdings in shares of Signet Jewelers by 4.9% during the third quarter. Ritholtz Wealth Management now owns 2,459 shares of the company’s stock valued at $254,000 after acquiring an additional 115 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Signet Jewelers during the third quarter valued at about $25,000. Cetera Investment Advisers raised its stake in shares of Signet Jewelers by 2.2% during the second quarter. Cetera Investment Advisers now owns 11,793 shares of the company’s stock valued at $1,056,000 after purchasing an additional 257 shares in the last quarter. KBC Group NV raised its stake in shares of Signet Jewelers by 25.5% during the third quarter. KBC Group NV now owns 1,293 shares of the company’s stock valued at $133,000 after purchasing an additional 263 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Signet Jewelers by 0.9% during the third quarter. Franklin Resources Inc. now owns 34,122 shares of the company’s stock valued at $3,330,000 after purchasing an additional 288 shares in the last quarter.

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.