StockNews.com Lowers Signet Jewelers (NYSE:SIG) to Hold

Signet Jewelers (NYSE:SIG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

SIG has been the subject of a number of other reports. Telsey Advisory Group restated a “market perform” rating and issued a $105.00 target price on shares of Signet Jewelers in a research note on Wednesday, July 24th. Citigroup restated a “buy” rating and issued a $119.00 price objective on shares of Signet Jewelers in a research report on Friday, June 14th. Finally, Wells Fargo & Company reduced their target price on shares of Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.20.

Signet Jewelers Trading Down 4.2 %

SIG stock opened at $80.55 on Wednesday. Signet Jewelers has a 1-year low of $65.12 and a 1-year high of $112.06. The business’s 50 day moving average is $82.66 and its 200-day moving average is $93.49. The firm has a market cap of $3.59 billion, a P/E ratio of 6.55, a P/E/G ratio of 0.90 and a beta of 2.16.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, June 13th. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.29. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. Sell-side analysts forecast that Signet Jewelers will post 10.6 EPS for the current year.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, insider Joan M. Hilson sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $91.81, for a total value of $734,480.00. Following the transaction, the insider now directly owns 189,231 shares of the company’s stock, valued at $17,373,298.11. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Signet Jewelers news, insider Joan M. Hilson sold 8,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $91.81, for a total value of $734,480.00. Following the transaction, the insider now owns 189,231 shares of the company’s stock, valued at $17,373,298.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Oded Edelman sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $74.55, for a total value of $670,950.00. Following the transaction, the insider now owns 28,398 shares of the company’s stock, valued at $2,117,070.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,439 shares of company stock worth $4,809,869. Company insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Several hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new stake in Signet Jewelers during the 2nd quarter worth $51,000. Hexagon Capital Partners LLC lifted its position in Signet Jewelers by 33.4% in the 2nd quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock valued at $63,000 after acquiring an additional 175 shares in the last quarter. Blue Trust Inc. boosted its stake in Signet Jewelers by 15.3% in the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after purchasing an additional 122 shares during the period. Quadrant Capital Group LLC increased its holdings in Signet Jewelers by 55.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock worth $164,000 after purchasing an additional 544 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Signet Jewelers by 6.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after purchasing an additional 116 shares during the period.

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.