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

Signet Jewelers (NYSE:SIG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other analysts have also issued research reports about the stock. Telsey Advisory Group lifted their target price on shares of Signet Jewelers from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Bank of America reduced their price target on shares of Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st. UBS Group lifted their price target on shares of Signet Jewelers from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company lifted their price target on shares of Signet Jewelers from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.20.

Signet Jewelers Stock Performance

SIG traded up $1.48 during trading on Friday, reaching $95.46. 653,023 shares of the company’s stock were exchanged, compared to its average volume of 722,204. The company’s fifty day moving average price is $100.05 and its 200-day moving average price is $92.17. Signet Jewelers has a fifty-two week low of $57.10 and a fifty-two week high of $109.17. The firm has a market capitalization of $4.23 billion, a PE ratio of 6.37, a P/E/G ratio of 1.14 and a beta of 2.13.

Signet Jewelers (NYSE:SIG) last released its earnings results on Wednesday, March 20th. The company reported $6.73 EPS for the quarter, topping analysts’ consensus estimates of $6.33 by $0.40. Signet Jewelers had a net margin of 11.30% and a return on equity of 32.26%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the business earned $5.52 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts forecast that Signet Jewelers will post 10.6 earnings per share for the current fiscal year.

Insider Activity at Signet Jewelers

In related news, CEO Virginia Drosos sold 10,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $99.85, for a total value of $998,500.00. Following the sale, the chief executive officer now directly owns 922,740 shares of the company’s stock, valued at approximately $92,135,589. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Mary Elizabeth Finn sold 5,431 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $89.53, for a total value of $486,237.43. Following the sale, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $5,409,044.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Virginia Drosos sold 10,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $99.85, for a total transaction of $998,500.00. Following the completion of the sale, the chief executive officer now directly owns 922,740 shares in the company, valued at $92,135,589. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,254 shares of company stock valued at $5,558,494. 4.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Signet Jewelers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund bought a new stake in Signet Jewelers during the 3rd quarter worth about $1,905,000. Vaughan Nelson Investment Management L.P. lifted its position in Signet Jewelers by 42.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 394,365 shares of the company’s stock worth $42,300,000 after buying an additional 118,275 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Signet Jewelers by 7.2% during the 3rd quarter. William Blair Investment Management LLC now owns 585,383 shares of the company’s stock worth $42,036,000 after purchasing an additional 39,316 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Signet Jewelers by 9.2% during the 3rd quarter. American Century Companies Inc. now owns 615,867 shares of the company’s stock worth $44,225,000 after purchasing an additional 52,104 shares during the last quarter. Finally, Procyon Advisors LLC acquired a new position in shares of Signet Jewelers during the 4th quarter worth about $255,000.

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.