Wells Fargo & Company Lowers Signet Jewelers (NYSE:SIG) Price Target to $95.00

Signet Jewelers (NYSE:SIG) had its price objective reduced by stock analysts at Wells Fargo & Company from $110.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 68.02% from the company’s previous close.

Several other analysts also recently issued reports on SIG. Telsey Advisory Group lowered their price objective on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday. Bank of America lowered their price target on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Signet Jewelers presently has a consensus rating of “Moderate Buy” and an average target price of $95.20.

Signet Jewelers Stock Performance

Shares of SIG stock 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 market cap of $2.46 billion, a PE ratio of 6.51, a P/E/G ratio of 0.95 and a beta of 2.13. The company’s fifty day simple moving average is $87.24 and its 200-day simple moving average is $87.61. Signet Jewelers has a 52 week low of $54.44 and a 52 week high of $112.06.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Signet Jewelers will post 9.88 EPS for the current year.

Insider Activity at Signet Jewelers

In related news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $99.63, for a total value of $332,066.79. Following the completion of the transaction, the director now directly owns 26,085 shares in the company, valued at approximately $2,598,848.55. This trade represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joan M. Hilson sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total value of $756,560.00. Following the sale, the insider now owns 200,844 shares in the company, valued at $18,993,817.08. The trade was 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.

Institutional Investors Weigh In On Signet Jewelers

Institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in Signet Jewelers during the third quarter worth $25,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Signet Jewelers during the second quarter worth $51,000. Erste Asset Management GmbH bought a new position in shares of Signet Jewelers in the 3rd quarter worth about $77,000. CWM LLC boosted its holdings in shares of Signet Jewelers by 177.3% in the 3rd quarter. CWM LLC now owns 1,148 shares of the company’s stock valued at $118,000 after buying an additional 734 shares during the period. Finally, KBC Group NV grew its position in shares of Signet Jewelers by 25.5% during the 3rd quarter. KBC Group NV now owns 1,293 shares of the company’s stock valued at $133,000 after buying an additional 263 shares during 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.