StockNews.com Upgrades Signet Jewelers (NYSE:SIG) to “Buy”

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

SIG has been the topic of several other research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $87.00 target price on shares of Signet Jewelers in a report on Wednesday, October 2nd. Bank of America reduced their target price 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. UBS Group dropped their price target on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company increased their price target on shares of Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Signet Jewelers currently has a consensus rating of “Moderate Buy” and an average target price of $109.60.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $92.51 on Tuesday. The company’s fifty day moving average price is $91.51 and its 200-day moving average price is $91.70. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.04 and a beta of 2.10. Signet Jewelers has a one year low of $67.18 and a one year high of $112.06.

Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.50 billion. During the same quarter last year, the firm earned $1.55 EPS. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, equities research analysts expect that Signet Jewelers will post 10.8 EPS for the current year.

Insider Transactions at Signet Jewelers

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $99.63, for a total value of $332,066.79. Following the completion of the sale, the director now directly owns 26,085 shares of the company’s stock, valued at approximately $2,598,848.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Oded Edelman sold 9,000 shares of the stock in a transaction dated 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 in the company, valued at $2,117,070.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the completion of the transaction, the director now owns 26,085 shares of the company’s stock, valued at approximately $2,598,848.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,957 shares of company stock valued at $5,910,256. Company insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Ritholtz Wealth Management increased its stake in shares of Signet Jewelers by 4.9% in the 3rd quarter. Ritholtz Wealth Management now owns 2,459 shares of the company’s stock worth $254,000 after acquiring an additional 115 shares in the last quarter. Lazard Asset Management LLC increased 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 worth $183,000 after acquiring an additional 116 shares in the last quarter. Blue Trust Inc. increased its stake in shares of 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 acquiring an additional 122 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Signet Jewelers by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 10,405 shares of the company’s stock valued at $932,000 after purchasing an additional 144 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in Signet Jewelers by 33.4% during the 2nd quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock valued at $63,000 after purchasing an additional 175 shares in 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.