Signet Jewelers (NYSE:SIG) Lowered to “Hold” Rating 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 research note issued to investors on Friday.

Other analysts have also recently issued research reports about the stock. Bank of America cut their target price on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Telsey Advisory Group reiterated a “market perform” rating and issued a $87.00 price objective on shares of Signet Jewelers in a report on Thursday. UBS Group reduced their target price 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, Wells Fargo & Company lifted their price target on Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.60.

Signet Jewelers Trading Up 5.6 %

Shares of Signet Jewelers stock traded up $4.86 during trading hours on Friday, reaching $91.80. The stock had a trading volume of 2,128,567 shares, compared to its average volume of 839,435. Signet Jewelers has a twelve month low of $72.26 and a twelve month high of $112.06. The firm has a market capitalization of $4.04 billion, a PE ratio of 10.56, a PEG ratio of 1.11 and a beta of 2.10. The stock’s 50 day moving average is $97.08 and its 200 day moving average is $91.59.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Thursday, December 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the company earned $0.24 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Signet Jewelers will post 10.8 earnings per share for the current year.

Insider Transactions at Signet Jewelers

In related news, CEO Virginia Drosos sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $101.25, for a total value of $60,750.00. Following the transaction, the chief executive officer now directly owns 728,220 shares in the company, valued at approximately $73,732,275. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mary Elizabeth Finn sold 3,763 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $92.32, for a total value of $347,400.16. Following the completion of the transaction, the insider now owns 43,058 shares of the company’s stock, valued at $3,975,114.56. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,957 shares of company stock worth $4,599,306 in the last ninety days. Insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

Large investors have recently modified their holdings of the business. Franklin Resources Inc. increased its position in shares of Signet Jewelers by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 34,122 shares of the company’s stock worth $3,330,000 after purchasing an additional 288 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Signet Jewelers by 10.7% during the third quarter. Sanctuary Advisors LLC now owns 34,260 shares of the company’s stock valued at $3,515,000 after acquiring an additional 3,312 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Signet Jewelers in the 3rd quarter valued at approximately $210,000. MidWestOne Financial Group Inc. lifted its holdings in shares of Signet Jewelers by 17.5% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 19,936 shares of the company’s stock worth $2,056,000 after acquiring an additional 2,962 shares during the last quarter. Finally, Vestcor Inc boosted its position in shares of Signet Jewelers by 133.4% during the 3rd quarter. Vestcor Inc now owns 11,721 shares of the company’s stock worth $1,209,000 after purchasing an additional 6,700 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.