Signet Jewelers (NYSE:SIG) Price Target Cut to $76.00

Signet Jewelers (NYSE:SIGGet Rating) had its target price decreased by analysts at Citigroup from $94.00 to $76.00 in a research report issued to clients and investors on Friday, The Fly reports. Citigroup’s price target points to a potential upside of 12.04% from the company’s current price.

A number of other research firms have also issued reports on SIG. Wells Fargo & Company reduced their target price on Signet Jewelers from $140.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 5th. Zacks Investment Research lowered Signet Jewelers from a “buy” rating to a “hold” rating and set a $66.00 target price on the stock. in a research note on Thursday, May 19th. Finally, StockNews.com raised Signet Jewelers from a “hold” rating to a “buy” rating in a research note on Saturday, March 26th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.57.

Shares of SIG opened at $67.83 on Friday. Signet Jewelers has a twelve month low of $48.31 and a twelve month high of $111.92. The stock’s 50 day moving average is $67.29 and its two-hundred day moving average is $77.40. The firm has a market capitalization of $3.38 billion, a PE ratio of 5.56, a P/E/G ratio of 0.69 and a beta of 2.39. The company has a current ratio of 1.80, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Signet Jewelers (NYSE:SIGGet Rating) last announced its quarterly earnings results on Thursday, March 17th. The company reported $5.01 EPS for the quarter, topping the consensus estimate of $4.91 by $0.10. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.77 billion. Signet Jewelers had a return on equity of 51.76% and a net margin of 9.84%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.15 EPS. On average, sell-side analysts predict that Signet Jewelers will post 11.26 EPS for the current year.

In other Signet Jewelers news, insider Stash Ptak sold 421 shares of the company’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $80.00, for a total value of $33,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Virginia Drosos sold 20,000 shares of the company’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $80.80, for a total transaction of $1,616,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,939 shares of company stock valued at $5,832,962. Insiders own 1.76% of the company’s stock.

Large investors have recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in Signet Jewelers in the 4th quarter valued at about $401,000. Massachusetts Financial Services Co. MA lifted its position in shares of Signet Jewelers by 28.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 35,435 shares of the company’s stock worth $3,084,000 after purchasing an additional 7,816 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Signet Jewelers during the fourth quarter worth about $339,000. Envestnet Asset Management Inc. lifted its position in shares of Signet Jewelers by 65.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 8,955 shares of the company’s stock worth $779,000 after purchasing an additional 3,555 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Signet Jewelers by 54.4% during the fourth quarter. Lazard Asset Management LLC now owns 585 shares of the company’s stock worth $50,000 after purchasing an additional 206 shares during the last quarter. 94.80% of the stock is owned by institutional investors.

About Signet Jewelers (Get Rating)

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 Jewelers, Zales Outlet, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through JamesAllen.com and Rocksbox.

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