Telsey Advisory Group Reiterates Market Perform Rating for Signet Jewelers (NYSE:SIG)

Signet Jewelers (NYSE:SIG)‘s stock had its “market perform” rating reiterated by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $87.00 target price on the stock. Telsey Advisory Group’s price target indicates a potential downside of 12.98% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Bank of America reduced their price target on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. UBS Group decreased their price objective on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Wells Fargo & Company lifted their target price on shares of Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.60.

Signet Jewelers Stock Performance

NYSE SIG opened at $99.98 on Wednesday. Signet Jewelers has a twelve month low of $72.26 and a twelve month high of $112.06. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.18 and a beta of 2.12. The firm’s 50 day moving average price is $97.17 and its two-hundred day moving average price is $91.67.

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

Insiders Place Their Bets

In related news, insider Mary Elizabeth Finn sold 3,763 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $92.32, for a total value of $347,400.16. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Virginia Drosos sold 3,475 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $101.67, for a total transaction of $353,303.25. Following the transaction, the chief executive officer now owns 775,345 shares of the company’s stock, valued at approximately $78,829,326.15. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,957 shares of company stock worth $4,599,306 in the last ninety days. Insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Several large investors have recently modified their holdings of SIG. Harbor Capital Advisors Inc. bought a new position in shares of Signet Jewelers during the 3rd quarter worth approximately $25,000. Brown Brothers Harriman & Co. bought a new stake in Signet Jewelers in the second quarter valued at $51,000. Hexagon Capital Partners LLC raised its stake in Signet Jewelers by 33.4% during the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock worth $63,000 after acquiring an additional 175 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Signet Jewelers during the third quarter valued at $77,000. Finally, 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 valued at $82,000 after buying an additional 122 shares in the last quarter.

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.