Telsey Advisory Group Has Lowered Expectations for Signet Jewelers (NYSE:SIG) Stock Price

Signet Jewelers (NYSE:SIG) had its price objective decreased by research analysts at Telsey Advisory Group from $87.00 to $65.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 12.42% from the company’s previous close.

A number of other analysts also recently issued reports on SIG. Wells Fargo & Company raised their price target on shares of Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.20.

Signet Jewelers Stock Performance

Signet Jewelers stock opened at $57.82 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.51 billion, a P/E ratio of 6.65, a PEG ratio of 1.04 and a beta of 2.13. The stock’s 50 day moving average is $88.69 and its 200 day moving average is $88.04. Signet Jewelers has a twelve month low of $54.44 and a twelve month high of $112.06.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS. On average, equities research analysts predict that Signet Jewelers will post 9.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, insider Joan M. Hilson sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were 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 directly owns 200,844 shares of the company’s stock, valued at approximately $18,993,817.08. This represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $99.63, for a total transaction of $332,066.79. Following the sale, the director now directly owns 26,085 shares of the company’s stock, valued at approximately $2,598,848.55. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds have recently modified their holdings of SIG. Khrom Capital Management LLC bought a new position in shares of Signet Jewelers in the second quarter worth approximately $58,357,000. Eminence Capital LP boosted its position in shares of Signet Jewelers by 71.3% in the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after purchasing an additional 351,588 shares during the period. Select Equity Group L.P. boosted its position in shares of Signet Jewelers by 2.9% in the second quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock worth $622,562,000 after purchasing an additional 193,977 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Signet Jewelers by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock worth $213,809,000 after purchasing an additional 149,934 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Signet Jewelers by 6.5% in the second quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock worth $185,347,000 after purchasing an additional 126,726 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.