Signet Jewelers (NYSE:SIG) Given New $65.00 Price Target at Bank of America

Signet Jewelers (NYSE:SIG) had its price objective dropped by stock analysts at Bank of America from $95.00 to $65.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 12.42% from the stock’s previous close.

Other research analysts have also issued reports about the company. Telsey Advisory Group lowered their price target on Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a report on Wednesday. Wells Fargo & Company increased their price objective on shares of Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com cut Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.20.

Signet Jewelers Stock Performance

Shares of SIG opened at $57.82 on Wednesday. The firm has a fifty day moving average of $88.69 and a 200-day moving average of $88.04. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 6.65, a price-to-earnings-growth ratio of 1.04 and a beta of 2.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. Signet Jewelers has a 1 year low of $54.44 and a 1 year high of $112.06.

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

Insider Activity at Signet Jewelers

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

Institutional Investors Weigh In On Signet Jewelers

A number of hedge funds have recently modified their holdings of SIG. Select Equity Group L.P. raised its holdings in shares of Signet Jewelers by 2.9% during the second quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock worth $622,562,000 after acquiring an additional 193,977 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Signet Jewelers by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock valued at $213,809,000 after purchasing an additional 149,934 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Signet Jewelers by 6.5% during the second quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock worth $185,347,000 after buying an additional 126,726 shares during the period. State Street Corp raised its position in Signet Jewelers by 1.0% in the 3rd quarter. State Street Corp now owns 1,756,075 shares of the company’s stock valued at $181,122,000 after buying an additional 16,912 shares during the last quarter. Finally, Eminence Capital LP lifted its stake in Signet Jewelers by 71.3% in the 2nd quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock valued at $75,644,000 after acquiring an additional 351,588 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.