Signet Jewelers (NYSE:SIG) Given New $89.00 Price Target at UBS Group

Signet Jewelers (NYSE:SIG) had its price target hoisted by research analysts at UBS Group from $85.00 to $89.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 52.25% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Wells Fargo & Company lowered their target price on shares of Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $55.00 target price on shares of Signet Jewelers in a research note on Wednesday. Finally, Bank of America lowered their target price on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

Signet Jewelers Trading Up 3.8 %

Shares of Signet Jewelers stock opened at $58.46 on Thursday. Signet Jewelers has a 12-month low of $45.55 and a 12-month high of $112.06. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 6.73, a PEG ratio of 3.43 and a beta of 2.20. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $54.52 and its 200-day moving average price is $78.32.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.39 by $0.23. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the firm posted $6.73 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities analysts expect that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $54.13, for a total value of $180,415.29. Following the transaction, the director now owns 22,752 shares in the company, valued at approximately $1,231,565.76. This trade represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in shares of Signet Jewelers by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock worth $57,000 after purchasing an additional 421 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Signet Jewelers in the third quarter worth approximately $77,000. Sterling Capital Management LLC grew its holdings in shares of Signet Jewelers by 832.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock worth $110,000 after purchasing an additional 1,216 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Signet Jewelers by 32.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock worth $123,000 after purchasing an additional 410 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Signet Jewelers by 25.5% in the third quarter. KBC Group NV now owns 1,293 shares of the company’s stock worth $133,000 after purchasing an additional 263 shares during 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.