UBS Group Cuts Signet Jewelers (NYSE:SIG) Price Target to $132.00

Signet Jewelers (NYSE:SIG) had its price target lowered by UBS Group from $145.00 to $132.00 in a report issued on Wednesday. The firm presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 70.48% from the company’s current price.

Other analysts also recently issued reports about the company. Telsey Advisory Group cut their target price on Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating for the company in a research report on Monday. Wells Fargo & Company reduced their price objective on shares of Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Citigroup reiterated a “buy” rating and set a $119.00 price target on shares of Signet Jewelers in a research report on Friday, June 14th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.60.

Signet Jewelers Stock Performance

SIG traded up $1.17 during trading hours on Wednesday, reaching $77.43. The company’s stock had a trading volume of 331,882 shares, compared to its average volume of 777,669. The company’s 50-day moving average is $81.57 and its 200-day moving average is $92.49. Signet Jewelers has a 52 week low of $65.12 and a 52 week high of $112.06. The firm has a market cap of $3.45 billion, a PE ratio of 6.28, a price-to-earnings-growth ratio of 0.83 and a beta of 2.11.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Thursday, June 13th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.29. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Signet Jewelers had a return on equity of 32.51% and a net margin of 10.91%. The business’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.78 earnings per share. Equities analysts anticipate that Signet Jewelers will post 10.6 earnings per share for the current fiscal year.

Insider Transactions at Signet Jewelers

In other news, Director Eugenia Ulasewicz sold 3,334 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $87.94, for a total transaction of $293,191.96. Following the completion of the sale, the director now directly owns 29,418 shares in the company, valued at $2,587,018.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,334 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $87.94, for a total value of $293,191.96. Following the transaction, the director now directly owns 29,418 shares of the company’s stock, valued at $2,587,018.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rebecca Wooters sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $90.34, for a total transaction of $271,020.00. Following the sale, the insider now directly owns 90,494 shares of the company’s stock, valued at approximately $8,175,227.96. The disclosure for this sale can be found here. Insiders sold 57,439 shares of company stock worth $4,809,869 over the last ninety days. 3.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Signet Jewelers

A number of institutional investors and hedge funds have recently bought and sold shares of SIG. Lazard Asset Management LLC boosted its stake in shares of Signet Jewelers by 6.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock worth $183,000 after buying an additional 116 shares during the last quarter. Blue Trust Inc. boosted its position in Signet Jewelers by 15.3% in the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after purchasing an additional 122 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Signet Jewelers by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 10,405 shares of the company’s stock valued at $932,000 after purchasing an additional 144 shares during the period. Commerce Bank increased its position in shares of Signet Jewelers by 5.3% during the 4th quarter. Commerce Bank now owns 2,941 shares of the company’s stock valued at $315,000 after purchasing an additional 148 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Signet Jewelers by 5.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock valued at $303,000 after purchasing an additional 156 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.