Signet Jewelers Limited (NYSE:SIG) Receives $95.20 Consensus Price Target from Brokerages

Signet Jewelers Limited (NYSE:SIG) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $95.20.

Several research analysts have commented on SIG shares. Telsey Advisory Group decreased their price target on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 15th. Bank of America cut their price target on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. StockNews.com downgraded Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company decreased their price target on shares of Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $50.13 on Wednesday. The stock has a market cap of $2.18 billion, a P/E ratio of 5.77, a P/E/G ratio of 3.43 and a beta of 2.20. Signet Jewelers has a 12 month low of $46.66 and a 12 month high of $112.06. The company has a 50 day moving average of $60.57 and a 200 day moving average of $80.65. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG) last posted 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 return on equity of 28.69% and a net margin of 8.57%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company posted $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, sell-side analysts forecast that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $54.13, for a total transaction of $180,415.29. Following the completion of the transaction, the director now directly owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. This trade represents a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Grace & White Inc. NY boosted its stake in Signet Jewelers by 6.1% during the fourth quarter. Grace & White Inc. NY now owns 207,262 shares of the company’s stock valued at $16,728,000 after buying an additional 11,900 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in Signet Jewelers by 22.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 61,568 shares of the company’s stock valued at $4,969,000 after purchasing an additional 11,218 shares during the last quarter. Van ECK Associates Corp lifted its position in Signet Jewelers by 30.5% during the fourth quarter. Van ECK Associates Corp now owns 36,655 shares of the company’s stock valued at $2,958,000 after purchasing an additional 8,574 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Signet Jewelers by 36.3% in the 4th quarter. Nordea Investment Management AB now owns 132,070 shares of the company’s stock worth $10,704,000 after buying an additional 35,174 shares in the last quarter. Finally, Meritage Portfolio Management bought a new stake in shares of Signet Jewelers in the 4th quarter worth about $648,000.

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.