Signet Jewelers (NYSE:SIG) Given “Market Perform” Rating at Telsey Advisory Group

Signet Jewelers (NYSE:SIG)‘s stock had its “market perform” rating reissued by stock analysts at Telsey Advisory Group in a note issued to investors on Wednesday, Benzinga reports. They currently have a $105.00 target price on the stock. Telsey Advisory Group’s target price indicates a potential upside of 27.01% from the stock’s current price.

SIG has been the subject of several other research reports. Wells Fargo & Company raised their target price on shares of Signet Jewelers from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Citigroup restated a “buy” rating and issued a $119.00 price objective on shares of Signet Jewelers in a research report on Friday, June 14th. UBS Group boosted their target price on Signet Jewelers from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $120.20.

Signet Jewelers Stock Up 0.8 %

Shares of SIG stock opened at $82.67 on Wednesday. The stock’s 50-day moving average price is $94.05 and its 200 day moving average price is $97.65. The stock has a market capitalization of $3.69 billion, a PE ratio of 6.72, a price-to-earnings-growth ratio of 0.91 and a beta of 2.16. Signet Jewelers has a 52-week low of $65.12 and a 52-week high of $112.06.

Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, June 13th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.29. Signet Jewelers had a return on equity of 32.51% and a net margin of 10.91%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. Analysts expect that Signet Jewelers will post 10.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Signet Jewelers news, insider Jamie Singleton sold 18,105 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $83.11, for a total value of $1,504,706.55. Following the completion of the transaction, the insider now directly owns 162,942 shares in the company, valued at approximately $13,542,109.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Signet Jewelers news, insider Jamie Singleton sold 18,105 shares of Signet Jewelers stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $83.11, for a total value of $1,504,706.55. Following the transaction, the insider now owns 162,942 shares in the company, valued at approximately $13,542,109.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joan M. Hilson sold 8,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $91.81, for a total value of $734,480.00. Following the sale, the insider now owns 189,231 shares of the company’s stock, valued at $17,373,298.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,439 shares of company stock worth $3,498,919. 3.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Signet Jewelers

A number of large investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in shares of Signet Jewelers by 37.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock valued at $50,000 after acquiring an additional 127 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Signet Jewelers during the 4th quarter valued at approximately $64,000. Blue Trust Inc. increased its holdings in Signet Jewelers by 15.3% during the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after purchasing an additional 122 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Signet Jewelers by 55.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock valued at $164,000 after purchasing an additional 544 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Signet Jewelers by 6.8% during the 1st quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after buying an additional 116 shares during the last quarter.

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.