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

StockNews.com upgraded shares of Signet Jewelers (NYSE:SIG) from a hold rating to a buy rating in a research report sent to investors on Thursday.

SIG has been the topic of several other research reports. UBS Group cut their target price 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. Wells Fargo & Company lifted their price objective on shares of Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Telsey Advisory Group reiterated a “market perform” rating and issued a $87.00 target price on shares of Signet Jewelers in a research report on Wednesday, November 27th. Finally, Bank of America lowered their target price on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Signet Jewelers has an average rating of “Moderate Buy” and a consensus target price of $109.60.

Signet Jewelers Stock Performance

Shares of SIG opened at $100.20 on Thursday. Signet Jewelers has a 1 year low of $72.26 and a 1 year high of $112.06. The firm has a fifty day moving average of $97.33 and a 200-day moving average of $91.67. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.14 and a beta of 2.12.

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

Signet Jewelers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, October 25th. This represents a $1.16 annualized dividend and a yield of 1.16%. Signet Jewelers’s dividend payout ratio is currently 13.43%.

Insider Buying and Selling

In other news, CEO Virginia Drosos sold 3,475 shares of Signet Jewelers stock in a transaction that occurred on Thursday, September 26th. The shares were 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 of the company’s stock, valued at $78,829,326.15. The trade was a 0.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $94.57, for a total transaction of $756,560.00. Following the completion of the sale, the insider now owns 200,844 shares in the company, valued at $18,993,817.08. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,957 shares of company stock valued at $4,599,306 over the last three months. Company insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Several large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Signet Jewelers during the third quarter worth $25,000. Brown Brothers Harriman & Co. purchased a new stake in Signet Jewelers during the second quarter valued at about $51,000. Hexagon Capital Partners LLC boosted its holdings in shares of Signet Jewelers by 33.4% in the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock worth $63,000 after buying an additional 175 shares during the period. Erste Asset Management GmbH purchased a new position in shares of Signet Jewelers in the third quarter worth approximately $77,000. Finally, Blue Trust Inc. raised its holdings in shares of Signet Jewelers by 15.3% during the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after acquiring an additional 122 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.