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

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

A number of other analysts also recently issued reports on SIG. Bank of America lowered their target price on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Wells Fargo & Company boosted their price target on Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group cut their price objective on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company 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 research note on Wednesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.60.

Signet Jewelers Stock Up 0.3 %

NYSE:SIG opened at $100.32 on Thursday. Signet Jewelers has a twelve month low of $72.26 and a twelve month high of $112.06. The company has a market cap of $4.42 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.13 and a beta of 2.12. The business has a 50 day moving average price of $97.22 and a two-hundred day moving average price of $91.73.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, topping 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 business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. The firm’s revenue was down 7.6% on a year-over-year basis. As a group, analysts anticipate that Signet Jewelers will post 10.8 earnings per share for the current fiscal year.

Insider Transactions at Signet Jewelers

In other Signet Jewelers news, insider Mary Elizabeth Finn sold 3,763 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $92.32, for a total transaction of $347,400.16. Following the completion of the sale, the insider now owns 43,058 shares of the company’s stock, valued at $3,975,114.56. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rebecca Wooters sold 22,151 shares of Signet Jewelers stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $99.00, for a total transaction of $2,192,949.00. Following the transaction, the insider now directly owns 68,343 shares of the company’s stock, valued at approximately $6,765,957. This trade represents a 24.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,957 shares of company stock worth $4,599,306. 3.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SIG. Khrom Capital Management LLC bought a new stake in shares of Signet Jewelers during the second quarter worth approximately $58,357,000. Eminence Capital LP lifted its holdings in Signet Jewelers by 71.3% during the 2nd 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 last quarter. Select Equity Group L.P. boosted its stake 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 purchasing an additional 193,977 shares during the period. Dimensional Fund Advisors LP grew its holdings in Signet Jewelers by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock valued at $213,809,000 after buying an additional 149,934 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in Signet Jewelers by 6.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock worth $185,347,000 after buying an additional 126,726 shares during the period.

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.