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

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

SIG has been the subject of a number of other reports. Bank of America cut their target price on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Citigroup reissued a “buy” rating and issued a $119.00 target price on shares of Signet Jewelers in a report on Friday, June 14th. UBS Group lowered their price target on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Telsey Advisory Group reduced their price objective on shares of Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating for the company in a research note on Monday, September 9th. Finally, Wells Fargo & Company lowered their target price 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Signet Jewelers has an average rating of “Moderate Buy” and an average price target of $108.60.

Signet Jewelers Stock Performance

Shares of SIG opened at $93.57 on Monday. The stock has a market capitalization of $4.17 billion, a P/E ratio of 7.59, a P/E/G ratio of 0.95 and a beta of 2.10. Signet Jewelers has a 1 year low of $65.12 and a 1 year high of $112.06. The company’s fifty day moving average is $81.50 and its two-hundred day moving average is $92.01.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. The business had revenue of $1.49 billion for 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%. The business’s revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 earnings per share. Sell-side analysts predict that Signet Jewelers will post 10.47 EPS for the current year.

Insiders Place Their Bets

In related news, insider Oded Edelman sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $74.55, for a total value of $670,950.00. Following the sale, the insider now owns 28,398 shares of the company’s stock, valued at approximately $2,117,070.90. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Oded Edelman sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $74.55, for a total value of $670,950.00. Following the completion of the transaction, the insider now owns 28,398 shares of the company’s stock, valued at approximately $2,117,070.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mary Elizabeth Finn sold 3,763 shares of the firm’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 sale, the insider now directly owns 43,058 shares in the company, valued at $3,975,114.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,202 shares of company stock worth $5,157,269. Insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SIG. Nordea Investment Management AB grew its holdings in Signet Jewelers by 25.0% in the first quarter. Nordea Investment Management AB now owns 76,951 shares of the company’s stock valued at $7,627,000 after purchasing an additional 15,376 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Signet Jewelers during the 1st quarter valued at $1,093,000. Illinois Municipal Retirement Fund increased its holdings in shares of Signet Jewelers by 97.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 45,593 shares of the company’s stock worth $4,562,000 after buying an additional 22,482 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Signet Jewelers in the 4th quarter worth $1,370,000. Finally, Boston Partners acquired a new position in Signet Jewelers in the first quarter valued at $1,088,000.

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.