Signet Jewelers (NYSE:SIG) Stock Rating Lowered by 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 report issued on Tuesday.

Other research analysts have also recently issued research reports about the stock. Bank of America cut their price target on shares of Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, March 21st. Citigroup raised Signet Jewelers from a “neutral” rating to a “buy” rating and boosted their price target for the company from $93.00 to $119.00 in a research note on Wednesday, December 6th. Wells Fargo & Company increased their price objective on Signet Jewelers from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. Telsey Advisory Group reduced their target price on shares of Signet Jewelers from $105.00 to $100.00 and set a “market perform” rating on the stock in a research note on Thursday, March 21st. Finally, UBS Group lowered their target price on shares of Signet Jewelers from $138.00 to $134.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Signet Jewelers presently has an average rating of “Hold” and an average target price of $114.60.

Signet Jewelers Stock Up 1.3 %

SIG stock opened at $99.42 on Tuesday. Signet Jewelers has a twelve month low of $57.10 and a twelve month high of $108.79. The company has a market cap of $4.41 billion, a PE ratio of 6.63, a price-to-earnings-growth ratio of 1.23 and a beta of 2.13. The business’s 50-day simple moving average is $100.25 and its 200 day simple moving average is $89.27.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Wednesday, March 20th. The company reported $6.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $0.40. Signet Jewelers had a return on equity of 32.26% and a net margin of 11.30%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the business posted $5.52 earnings per share. Signet Jewelers’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Signet Jewelers will post 9.65 EPS for the current year.

Insider Buying and Selling at Signet Jewelers

In related news, CEO Virginia Drosos sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $95.93, for a total value of $3,357,550.00. Following the completion of the transaction, the chief executive officer now owns 932,740 shares in the company, valued at approximately $89,477,748.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Mary Elizabeth Finn sold 5,431 shares of Signet Jewelers stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $93.66, for a total transaction of $508,667.46. Following the completion of the sale, the insider now owns 70,607 shares in the company, valued at approximately $6,613,051.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Virginia Drosos sold 35,000 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $95.93, for a total transaction of $3,357,550.00. Following the completion of the transaction, the chief executive officer now owns 932,740 shares in the company, valued at $89,477,748.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,435 shares of company stock worth $9,302,391. 4.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Signet Jewelers

Institutional investors have recently bought and sold shares of the business. Eminence Capital LP bought a new position in shares of Signet Jewelers in the 3rd quarter worth $40,962,000. Norges Bank acquired a new position in shares of Signet Jewelers during the 4th quarter worth about $52,976,000. Millennium Management LLC increased its stake in shares of Signet Jewelers by 857.4% in the 4th quarter. Millennium Management LLC now owns 457,101 shares of the company’s stock valued at $31,083,000 after acquiring an additional 409,355 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Signet Jewelers by 38.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,262,773 shares of the company’s stock valued at $135,445,000 after acquiring an additional 349,771 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Signet Jewelers during the 3rd quarter worth approximately $19,826,000.

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 Jewelers, Zales Outlet, 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.