Signet Jewelers (NYSE:SIG) Stock Price Expected to Rise, UBS Group Analyst Says

Signet Jewelers (NYSE:SIG) had its price objective hoisted by stock analysts at UBS Group from $85.00 to $89.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 52.25% from the company’s current price.

SIG has been the subject of several other research reports. Wells Fargo & Company reduced 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 report on Wednesday, January 15th. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $55.00 price objective on shares of Signet Jewelers in a report on Wednesday. Finally, Bank of America cut their price objective 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Signet Jewelers currently has an average rating of “Moderate Buy” and a consensus target price of $81.60.

Signet Jewelers Trading Up 3.8 %

SIG opened at $58.46 on Thursday. The company’s 50 day moving average is $54.52 and its 200-day moving average is $78.32. Signet Jewelers has a 1-year low of $45.55 and a 1-year high of $112.06. 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 $2.54 billion, a P/E ratio of 6.73, a PEG ratio of 3.43 and a beta of 2.20.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.39 by $0.23. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the business earned $6.73 EPS. The company’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts predict that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Eugenia Ulasewicz sold 3,333 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $54.13, for a total value of $180,415.29. Following the transaction, the director now directly owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. The trade was a 12.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its holdings in Signet Jewelers by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock valued at $57,000 after purchasing an additional 421 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Signet Jewelers during the third quarter valued at about $77,000. Sterling Capital Management LLC lifted its holdings in Signet Jewelers by 832.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock valued at $110,000 after purchasing an additional 1,216 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Signet Jewelers by 32.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock valued at $123,000 after purchasing an additional 410 shares during the last quarter. Finally, KBC Group NV lifted its holdings in 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 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.