Signet Jewelers (NYSE:SIG) Receives “Market Perform” Rating from Telsey Advisory Group

Signet Jewelers (NYSE:SIG)‘s stock had its “market perform” rating reissued by research analysts at Telsey Advisory Group in a research note issued on Tuesday,Benzinga reports. They presently have a $96.00 price objective on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 2.81% from the company’s current price.

A number of other research analysts also recently issued reports on the company. UBS Group set a $118.00 price objective on Signet Jewelers and gave the stock a “buy” rating in a report on Tuesday. Zacks Research downgraded Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Signet Jewelers in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Signet Jewelers from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Signet Jewelers in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Signet Jewelers Price Performance

Shares of SIG traded up $1.77 during midday trading on Tuesday, hitting $93.38. The stock had a trading volume of 234,949 shares, compared to its average volume of 825,373. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25. The company has a 50 day simple moving average of $92.25 and a two-hundred day simple moving average of $93.67. Signet Jewelers has a twelve month low of $45.55 and a twelve month high of $110.20.

Institutional Trading of Signet Jewelers

A number of hedge funds have recently made changes to their positions in the business. Salomon & Ludwin LLC bought a new stake in Signet Jewelers in the 3rd quarter valued at about $31,000. Richardson Financial Services Inc. bought a new stake in shares of Signet Jewelers in the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its position in Signet Jewelers by 48.6% during the fourth quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock worth $31,000 after buying an additional 124 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in Signet Jewelers during the 4th quarter worth $39,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Signet Jewelers by 111.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock valued at $52,000 after acquiring an additional 333 shares in the last quarter.

Signet Jewelers Company Profile

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.