Signet Jewelers (NYSE:SIG) Price Target Lowered to $65.00 at Telsey Advisory Group

Signet Jewelers (NYSE:SIG) had its price target reduced by analysts at Telsey Advisory Group from $87.00 to $65.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a “market perform” rating on the stock. Telsey Advisory Group’s target price indicates a potential upside of 14.96% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.20.

Signet Jewelers Price Performance

Shares of Signet Jewelers stock opened at $56.54 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $87.24 and its two-hundred day moving average price is $87.61. Signet Jewelers has a 52 week low of $54.44 and a 52 week high of $112.06. The stock has a market cap of $2.46 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 0.95 and a beta of 2.13.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm posted $0.24 earnings per share. Signet Jewelers’s revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Signet Jewelers will post 9.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Signet Jewelers news, insider Joan M. Hilson sold 8,000 shares of Signet Jewelers stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $94.57, for a total transaction of $756,560.00. Following the transaction, the insider now owns 200,844 shares of the company’s stock, valued at $18,993,817.08. The trade was a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $99.63, for a total value of $332,066.79. Following the transaction, the director now directly owns 26,085 shares in the company, valued at approximately $2,598,848.55. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

Several institutional investors and hedge funds have recently bought and sold shares of SIG. Choreo LLC purchased a new position in Signet Jewelers during the 2nd quarter valued at about $214,000. Envestnet Asset Management Inc. grew its stake in Signet Jewelers by 5.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,962 shares of the company’s stock valued at $1,967,000 after acquiring an additional 1,100 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Signet Jewelers in the 2nd quarter valued at approximately $51,000. Dimensional Fund Advisors LP grew its stake in shares of Signet Jewelers by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock valued at $213,809,000 after buying an additional 149,934 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Signet Jewelers in the 2nd quarter valued at approximately $272,000.

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.