Signet Jewelers (NYSE:SIG) Downgraded to “Hold” at StockNews.com

Signet Jewelers (NYSE:SIG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts also recently issued reports about the company. UBS Group boosted their price objective on Signet Jewelers from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Bank of America reduced their price objective on Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, March 21st. Finally, Telsey Advisory Group boosted their price objective on Signet Jewelers from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. Four equities 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.com, the company has an average rating of “Hold” and an average price target of $120.20.

Signet Jewelers Trading Up 2.2 %

NYSE:SIG opened at $101.82 on Friday. The firm has a market capitalization of $4.51 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 1.16 and a beta of 2.13. The stock has a 50 day moving average of $99.57 and a 200-day moving average of $93.24. Signet Jewelers has a 52 week low of $57.10 and a 52 week high of $109.17.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Wednesday, March 20th. The company reported $6.73 EPS for the quarter, beating the consensus estimate of $6.33 by $0.40. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.55 billion. Signet Jewelers had a return on equity of 32.26% and a net margin of 11.30%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.52 earnings per share. As a group, analysts predict that Signet Jewelers will post 10.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other Signet Jewelers news, Director H. Todd Stitzer sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $100.09, for a total value of $1,000,900.00. Following the completion of the sale, the director now directly owns 41,678 shares in the company, valued at $4,171,551.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Signet Jewelers news, Director H. Todd Stitzer sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $100.09, for a total value of $1,000,900.00. Following the completion of the sale, the director now directly owns 41,678 shares in the company, valued at $4,171,551.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Oded Edelman sold 7,912 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $100.87, for a total value of $798,083.44. Following the sale, the insider now owns 25,466 shares of the company’s stock, valued at approximately $2,568,755.42. The disclosure for this sale can be found here. Insiders sold 47,254 shares of company stock worth $4,669,294 over the last ninety days. Company insiders own 4.54% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates raised its stake in Signet Jewelers by 378.9% during the 3rd quarter. Raymond James & Associates now owns 43,040 shares of the company’s stock valued at $3,091,000 after purchasing an additional 34,053 shares during the period. Simon Quick Advisors LLC acquired a new stake in Signet Jewelers during the 3rd quarter valued at $227,000. GW Henssler & Associates Ltd. acquired a new stake in Signet Jewelers during the 3rd quarter valued at $234,000. Brown Advisory Inc. raised its stake in Signet Jewelers by 26.6% during the 3rd quarter. Brown Advisory Inc. now owns 719,186 shares of the company’s stock valued at $51,645,000 after purchasing an additional 151,121 shares during the period. Finally, New York State Teachers Retirement System raised its stake in Signet Jewelers by 3.5% during the 3rd quarter. New York State Teachers Retirement System now owns 82,221 shares of the company’s stock valued at $5,904,000 after purchasing an additional 2,817 shares during the period.

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.