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

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

SIG has been the topic of a number of other reports. Telsey Advisory Group restated a “market perform” rating and issued a $87.00 price target on shares of Signet Jewelers in a research note on Wednesday, October 2nd. Bank of America decreased their price target on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. UBS Group decreased their price target on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company decreased their target price on Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $108.60.

Signet Jewelers Trading Down 4.2 %

Shares of SIG traded down $4.23 during mid-day trading on Monday, hitting $96.60. The company’s stock had a trading volume of 1,021,413 shares, compared to its average volume of 818,323. Signet Jewelers has a 1-year low of $67.18 and a 1-year high of $112.06. The firm has a market capitalization of $4.31 billion, a P/E ratio of 7.85, a P/E/G ratio of 1.11 and a beta of 2.10. The firm has a 50-day simple moving average of $88.76 and a 200 day simple moving average of $92.07.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business earned $1.55 earnings per share. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, CEO Virginia Drosos sold 3,475 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $101.67, for a total transaction of $353,303.25. Following the completion of the transaction, the chief executive officer now directly owns 775,345 shares in the company, valued at approximately $78,829,326.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Mary Elizabeth Finn sold 8,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $80.00, for a total transaction of $640,000.00. Following the transaction, the insider now directly owns 46,821 shares in the company, valued at approximately $3,745,680. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Virginia Drosos sold 3,475 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $101.67, for a total value of $353,303.25. Following the transaction, the chief executive officer now owns 775,345 shares in the company, valued at $78,829,326.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,624 shares of company stock worth $4,821,629. 3.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

Several large investors have recently added to or reduced their stakes in the business. Select Equity Group L.P. lifted its position in 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 buying an additional 193,977 shares during the period. Dimensional Fund Advisors LP lifted its position in Signet Jewelers by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock worth $213,809,000 after buying an additional 149,934 shares during the period. Pacer Advisors Inc. lifted its position in 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. Eminence Capital LP lifted its position in Signet Jewelers by 71.3% during the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after buying an additional 351,588 shares during the period. Finally, Anomaly Capital Management LP lifted its position in Signet Jewelers by 12.4% during the second quarter. Anomaly Capital Management LP now owns 691,451 shares of the company’s stock worth $61,940,000 after buying an additional 76,534 shares during the period.

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.