Signet Jewelers (NYSE:SIG) Hits New 1-Year Low – Here’s What Happened

Shares of Signet Jewelers Limited (NYSE:SIG) reached a new 52-week low on Tuesday . The company traded as low as $46.51 and last traded at $46.93, with a volume of 38647 shares changing hands. The stock had previously closed at $48.17.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SIG. Bank of America cut their price target on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company cut their target price on shares of Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Telsey Advisory Group decreased their price target on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 15th. Finally, StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.20.

Signet Jewelers Trading Down 3.0 %

The stock has a 50 day moving average of $59.29 and a 200-day moving average of $80.29. The company has a market capitalization of $2.03 billion, a P/E ratio of 5.38, a P/E/G ratio of 3.43 and a beta of 2.20. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14.

Insiders Place Their Bets

In related news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction on Friday, February 21st. The shares were sold at an average price of $54.13, for a total transaction of $180,415.29. Following the transaction, the director now owns 22,752 shares in the company, valued at approximately $1,231,565.76. The trade was a 12.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

A number of institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its position in shares of Signet Jewelers by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock valued at $57,000 after acquiring an additional 421 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Signet Jewelers in the 3rd quarter worth approximately $77,000. KBC Group NV boosted its stake in Signet Jewelers by 25.5% in the 3rd quarter. KBC Group NV now owns 1,293 shares of the company’s stock worth $133,000 after purchasing an additional 263 shares during the period. Sterling Capital Management LLC grew its holdings in Signet Jewelers by 832.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock valued at $110,000 after buying an additional 1,216 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Signet Jewelers by 32.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock valued at $123,000 after buying an additional 410 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.