Signet Jewelers (NYSE:SIG) Price Target Lowered to $95.00 at Wells Fargo & Company

Signet Jewelers (NYSE:SIG) had its price target lowered by Wells Fargo & Company from $110.00 to $95.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 64.30% from the stock’s current price.

Several other research firms have also commented on SIG. Telsey Advisory Group reduced their price target on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Bank of America reduced their price target on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.20.

Signet Jewelers Stock Down 21.9 %

Shares of NYSE SIG opened at $57.82 on Wednesday. Signet Jewelers has a 52-week low of $54.44 and a 52-week high of $112.06. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 1.04 and a beta of 2.13. The stock has a 50 day moving average price of $88.69 and a 200 day moving average price of $88.04. 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 (NYSE:SIG) last issued its earnings results on Thursday, December 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. Signet Jewelers’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. Sell-side analysts expect that Signet Jewelers will post 9.88 earnings per share for the current year.

Insider Transactions at Signet Jewelers

In other Signet Jewelers news, insider Joan M. Hilson sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $94.57, for a total value of $756,560.00. Following the completion of the sale, the insider now owns 200,844 shares of the company’s stock, valued at approximately $18,993,817.08. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $99.63, for a total transaction of $332,066.79. Following the transaction, the director now 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. Insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in Signet Jewelers by 36.3% during the 4th quarter. Nordea Investment Management AB now owns 132,070 shares of the company’s stock valued at $10,704,000 after purchasing an additional 35,174 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Signet Jewelers by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 310,852 shares of the company’s stock worth $32,061,000 after purchasing an additional 3,238 shares during the period. Franklin Resources Inc. boosted its position in Signet Jewelers by 0.9% in the third quarter. Franklin Resources Inc. now owns 34,122 shares of the company’s stock valued at $3,330,000 after buying an additional 288 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in Signet Jewelers by 10.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,260 shares of the company’s stock worth $3,515,000 after buying an additional 3,312 shares during the period. Finally, Virtu Financial LLC purchased a new position in Signet Jewelers during the 3rd quarter worth approximately $210,000.

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.