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

Signet Jewelers (NYSE:SIG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Other equities research analysts have also recently issued research reports about the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $87.00 price target on shares of Signet Jewelers in a report on Wednesday, October 2nd. Wells Fargo & Company dropped their price target on Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. UBS Group decreased their price objective on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Bank of America dropped their price objective on shares of 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 given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $108.60.

Signet Jewelers Trading Down 1.0 %

Shares of Signet Jewelers stock opened at $95.63 on Monday. The firm has a market capitalization of $4.21 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.14 and a beta of 2.10. The business’s fifty day simple moving average is $89.24 and its 200 day simple moving average is $92.00. Signet Jewelers has a 12 month low of $67.18 and a 12 month high of $112.06.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $1.55 EPS. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. Analysts predict that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Oded Edelman sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $74.55, for a total transaction of $670,950.00. Following the sale, the insider now directly owns 28,398 shares in the company, valued at $2,117,070.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Signet Jewelers news, insider Oded Edelman sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $74.55, for a total value of $670,950.00. Following the completion of the transaction, the insider now directly owns 28,398 shares of the company’s stock, valued at $2,117,070.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Elizabeth Finn sold 8,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total transaction of $640,000.00. Following the completion of the transaction, the insider now directly owns 46,821 shares in the company, valued at approximately $3,745,680. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,624 shares of company stock worth $4,821,629 in the last quarter. 3.26% of the stock is owned by company insiders.

Institutional Trading of Signet Jewelers

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning increased its position in shares of Signet Jewelers by 26.0% in the third quarter. Creative Planning now owns 9,827 shares of the company’s stock worth $1,014,000 after purchasing an additional 2,029 shares during the last quarter. CX Institutional purchased a new stake in shares of Signet Jewelers during the 3rd quarter valued at $3,264,000. Ritholtz Wealth Management raised its position in shares of Signet Jewelers by 4.9% during the 3rd quarter. Ritholtz Wealth Management now owns 2,459 shares of the company’s stock valued at $254,000 after buying an additional 115 shares in the last quarter. CWM LLC lifted its holdings in shares of Signet Jewelers by 177.3% during the 3rd quarter. CWM LLC now owns 1,148 shares of the company’s stock worth $118,000 after acquiring an additional 734 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Signet Jewelers by 36.3% in the third quarter. Handelsbanken Fonder AB now owns 12,400 shares of the company’s stock worth $1,279,000 after acquiring an additional 3,300 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.