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

Signet Jewelers (NYSE:SIG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

SIG has been the topic of several other research reports. Wells Fargo & Company dropped their target price on Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Bank of America dropped their target price on 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 target price on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $87.00 target price on shares of Signet Jewelers in a report on Wednesday, October 2nd. 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.60.

Signet Jewelers Price Performance

Shares of NYSE SIG traded down $4.23 during mid-day trading on Monday, hitting $96.60. The company had a trading volume of 1,021,413 shares, compared to its average volume of 818,323. The company has a market capitalization of $4.31 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 1.11 and a beta of 2.10. Signet Jewelers has a 1-year low of $67.18 and a 1-year high of $112.06. The business’s 50-day simple moving average is $88.76 and its 200 day simple moving average is $92.07.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Thursday, September 12th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.55 earnings per share. On average, analysts expect that Signet Jewelers will post 10.8 EPS for the current year.

Insiders Place Their Bets

In other Signet Jewelers news, CEO Virginia Drosos sold 3,475 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $101.67, for a total transaction of $353,303.25. Following the transaction, the chief executive officer now owns 775,345 shares of the company’s stock, valued at approximately $78,829,326.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Signet Jewelers news, CEO Virginia Drosos sold 3,475 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $101.67, for a total transaction of $353,303.25. Following the transaction, the chief executive officer now owns 775,345 shares of the company’s stock, valued at approximately $78,829,326.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mary Elizabeth Finn sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $640,000.00. Following the transaction, the insider now directly owns 46,821 shares in the company, valued at approximately $3,745,680. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,624 shares of company stock valued at $4,821,629. 3.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Signet Jewelers

Institutional investors have recently added to or reduced their stakes in the stock. Khrom Capital Management LLC purchased a new position in shares of Signet Jewelers in the 2nd quarter valued at approximately $58,357,000. Eminence Capital LP lifted its holdings in shares of Signet Jewelers by 71.3% during the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after purchasing an additional 351,588 shares during the period. Select Equity Group L.P. grew its position in Signet Jewelers by 2.9% in the 2nd quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock valued at $622,562,000 after buying an additional 193,977 shares during the last quarter. Janus Henderson Group PLC increased its stake in Signet Jewelers by 38.2% in the 1st quarter. Janus Henderson Group PLC now owns 656,005 shares of the company’s stock valued at $65,646,000 after buying an additional 181,207 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Signet Jewelers by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock worth $213,809,000 after buying an additional 149,934 shares during the last quarter.

Signet Jewelers Company Profile

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.