Signet Jewelers (NYSE:SIG) Downgraded by StockNews.com

Signet Jewelers (NYSE:SIGGet Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other brokerages also recently weighed in on SIG. Wells Fargo & Company cut 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. Telsey Advisory Group lowered their target price on shares of Signet Jewelers from $100.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, June 10th. Citigroup decreased their price target on shares of Signet Jewelers from $94.00 to $76.00 and set a “neutral” rating on the stock in a report on Friday, June 10th. Finally, UBS Group decreased their price target on shares of Signet Jewelers from $138.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, June 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $94.80.

Shares of SIG opened at $57.41 on Wednesday. The company has a market capitalization of $2.67 billion, a PE ratio of 7.11, a PEG ratio of 0.59 and a beta of 2.39. Signet Jewelers has a 12 month low of $48.31 and a 12 month high of $111.92. The stock’s 50-day moving average price is $65.59 and its two-hundred day moving average price is $75.08. The company has a current ratio of 1.64, a quick ratio of 0.61 and a debt-to-equity ratio of 0.12.

Signet Jewelers (NYSE:SIGGet Rating) last posted its quarterly earnings data on Thursday, June 9th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.48. Signet Jewelers had a return on equity of 52.99% and a net margin of 6.87%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the company posted $2.23 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts predict that Signet Jewelers will post 12.47 EPS for the current fiscal 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 transaction of $33,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Oded Edelman sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $69.34, for a total transaction of $1,386,800.00. Following the sale, the insider now owns 85,398 shares of the company’s stock, valued at $5,921,497.32. The disclosure for this sale can be found here. In the last three months, insiders sold 50,421 shares of company stock worth $3,118,380. 1.76% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its holdings in shares of Signet Jewelers by 1.2% during the first quarter. Arizona State Retirement System now owns 14,342 shares of the company’s stock worth $1,043,000 after purchasing an additional 167 shares during the period. Van ECK Associates Corp raised its stake in Signet Jewelers by 15.9% in the first quarter. Van ECK Associates Corp now owns 1,363 shares of the company’s stock worth $99,000 after buying an additional 187 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of Signet Jewelers by 6.7% during the fourth quarter. Kestra Advisory Services LLC now owns 3,154 shares of the company’s stock valued at $274,000 after purchasing an additional 197 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of Signet Jewelers by 1.4% during the fourth quarter. Virginia Retirement Systems ET AL now owns 14,800 shares of the company’s stock valued at $1,288,000 after purchasing an additional 200 shares in the last quarter. Finally, Lazard Asset Management LLC increased 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 valued at $50,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 94.80% of the company’s stock.

Signet Jewelers Company Profile (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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Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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