Signet Jewelers (NYSE:SIG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Signet Jewelers (NYSE:SIG) from a hold rating to a buy rating in a research report report published on Thursday.

SIG has been the subject of several other research reports. Citigroup reissued a buy rating and issued a $119.00 price target on shares of Signet Jewelers in a research report on Friday, June 14th. Telsey Advisory Group reiterated a market perform rating and issued a $87.00 target price on shares of Signet Jewelers in a report on Wednesday, October 2nd. UBS Group cut their price target on Signet Jewelers from $145.00 to $132.00 and set a buy rating on the stock in a report on Wednesday, September 11th. Bank of America decreased their price objective on Signet Jewelers from $108.00 to $100.00 and set a neutral rating for the company in a research note on Friday, September 13th. Finally, Wells Fargo & Company cut 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 note on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $108.60.

Signet Jewelers Stock Down 0.6 %

SIG opened at $96.16 on Thursday. Signet Jewelers has a 52 week low of $67.18 and a 52 week high of $112.06. The business has a fifty day simple moving average of $86.25 and a 200-day simple moving average of $92.11. The firm has a market cap of $4.29 billion, a P/E ratio of 7.82, a P/E/G ratio of 1.12 and a beta of 2.10.

Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.11. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. Signet Jewelers’s revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 EPS. Sell-side analysts expect that Signet Jewelers will post 10.8 earnings per share for the current year.

Signet Jewelers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, October 25th. Signet Jewelers’s payout ratio is 9.43%.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, insider Mary Elizabeth Finn sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $86.94, for a total transaction of $695,520.00. Following the sale, the insider now owns 54,821 shares of the company’s stock, valued at approximately $4,766,137.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Oded Edelman sold 1,398 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $94.53, for a total transaction of $132,152.94. Following the transaction, the insider now owns 32,666 shares in the company, valued at $3,087,916.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mary Elizabeth Finn sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $86.94, for a total value of $695,520.00. Following the completion of the sale, the insider now owns 54,821 shares of the company’s stock, valued at approximately $4,766,137.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,892 shares of company stock valued at $6,536,982 over the last three months. 3.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of institutional investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. purchased a new position in Signet Jewelers during the 2nd quarter worth $51,000. Hexagon Capital Partners LLC grew its holdings in shares of Signet Jewelers by 33.4% during the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock worth $63,000 after buying an additional 175 shares during the last quarter. Blue Trust Inc. increased its position in Signet Jewelers by 15.3% in the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after acquiring an additional 122 shares during the period. CWM LLC raised its stake in Signet Jewelers by 177.3% during the 3rd quarter. CWM LLC now owns 1,148 shares of the company’s stock valued at $118,000 after acquiring an additional 734 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Signet Jewelers during the 2nd quarter valued at approximately $180,000.

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.