Wells Fargo & Company Lowers Signet Jewelers (NYSE:SIG) Price Target to $95.00

Signet Jewelers (NYSE:SIG) had its price objective dropped by equities research analysts at Wells Fargo & Company from $110.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 64.30% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Bank of America dropped their price objective on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Telsey Advisory Group decreased their target price on Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Signet Jewelers presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.20.

Signet Jewelers Price Performance

NYSE SIG opened at $57.82 on Wednesday. The business’s fifty day moving average is $88.69 and its 200 day moving average is $88.04. Signet Jewelers has a fifty-two week low of $54.44 and a fifty-two week 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 company has a market capitalization of $2.51 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 1.04 and a beta of 2.13.

Signet Jewelers (NYSE:SIG) last posted 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 company had revenue of $1.35 billion for 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%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 earnings per share. Sell-side analysts predict that Signet Jewelers will post 9.88 earnings per share for the current year.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joan M. Hilson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 200,844 shares of the company’s stock, valued at $18,993,817.08. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of large investors have recently made changes to their positions in SIG. Khrom Capital Management LLC bought a new stake in Signet Jewelers in the second quarter worth about $58,357,000. Eminence Capital LP raised its holdings in shares of Signet Jewelers by 71.3% in the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after buying an additional 351,588 shares during the period. Select Equity Group L.P. lifted its stake in shares of Signet Jewelers by 2.9% during the 2nd quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock worth $622,562,000 after acquiring an additional 193,977 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 valued at $213,809,000 after acquiring an additional 149,934 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Signet Jewelers by 6.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock valued at $185,347,000 after acquiring an additional 126,726 shares during the period.

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.