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

Signet Jewelers (NYSE:SIG) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

A number of other brokerages have also weighed in on SIG. UBS Group cut their price objective on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Bank of America decreased their price objective on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $87.00 target price on shares of Signet Jewelers in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Signet Jewelers currently has a consensus rating of “Moderate Buy” and an average target price of $108.60.

Signet Jewelers Stock Down 1.0 %

NYSE:SIG opened at $95.63 on Monday. The firm has a market capitalization of $4.21 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.14 and a beta of 2.10. Signet Jewelers has a 52 week low of $67.18 and a 52 week high of $112.06. The company has a fifty day moving average of $89.24 and a 200 day moving average of $92.00.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. Signet Jewelers’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. As a group, analysts anticipate that Signet Jewelers will post 10.8 EPS for the current year.

Insider Buying and Selling

In other news, insider Oded Edelman sold 9,000 shares of Signet Jewelers stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $74.55, for a total transaction of $670,950.00. Following the completion of the transaction, the insider now directly owns 28,398 shares in the company, valued at approximately $2,117,070.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Oded Edelman sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $74.55, for a total transaction of $670,950.00. Following the completion of the transaction, the insider now directly owns 28,398 shares in the company, valued at $2,117,070.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Elizabeth Finn sold 3,763 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 43,058 shares in the company, valued at approximately $3,975,114.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,624 shares of company stock worth $4,821,629 in the last three months. 3.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Signet Jewelers

Institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management lifted its position in Signet Jewelers by 4.9% in the 3rd quarter. Ritholtz Wealth Management now owns 2,459 shares of the company’s stock valued at $254,000 after acquiring an additional 115 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Signet Jewelers by 6.8% during the first quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after buying an additional 116 shares during the last quarter. Blue Trust Inc. increased its holdings in Signet Jewelers by 15.3% in the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after buying an additional 122 shares in the last quarter. SummerHaven Investment Management LLC raised its position in Signet Jewelers by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 10,405 shares of the company’s stock worth $932,000 after buying an additional 144 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in 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 acquiring an additional 156 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.