Bank of America Lowers Signet Jewelers (NYSE:SIG) Price Target to $65.00

Signet Jewelers (NYSE:SIG) had its price target decreased by stock analysts at Bank of America from $95.00 to $65.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price would suggest a potential upside of 12.42% from the company’s previous close.

Several other brokerages also recently weighed in on SIG. Wells Fargo & Company increased their target price on shares of Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com cut Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Telsey Advisory Group dropped their price objective on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Signet Jewelers currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.20.

Signet Jewelers Trading Down 21.9 %

SIG opened at $57.82 on Wednesday. The company has a market cap of $2.51 billion, a P/E ratio of 6.65, a PEG ratio of 1.04 and a beta of 2.13. Signet Jewelers has a one year low of $54.44 and a one year high of $112.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. The business’s 50-day simple moving average is $88.69 and its 200-day simple moving average is $88.04.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. Signet Jewelers’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. As a group, equities research analysts expect that Signet Jewelers will post 9.88 EPS for the current fiscal year.

Insider Activity

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $99.63, for a total value of $332,066.79. Following the completion of the transaction, the director now directly owns 26,085 shares of the company’s stock, valued at $2,598,848.55. The trade was a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joan M. Hilson sold 8,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total value of $756,560.00. Following the sale, the insider now directly owns 200,844 shares in the company, valued at approximately $18,993,817.08. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new position in shares of Signet Jewelers in the 3rd quarter valued at $25,000. Brown Brothers Harriman & Co. acquired a new position in Signet Jewelers in the second quarter valued at $51,000. Erste Asset Management GmbH purchased a new stake in Signet Jewelers during the third quarter valued at about $77,000. CWM LLC raised its holdings in shares of Signet Jewelers by 177.3% in the 3rd quarter. CWM LLC now owns 1,148 shares of the company’s stock worth $118,000 after purchasing an additional 734 shares during the period. Finally, KBC Group NV lifted its stake in shares of Signet Jewelers by 25.5% in the 3rd quarter. KBC Group NV now owns 1,293 shares of the company’s stock valued at $133,000 after purchasing an additional 263 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.