Telsey Advisory Group Trims Signet Jewelers (NYSE:SIG) Target Price to $87.00

Signet Jewelers (NYSE:SIG) had its price objective reduced by investment analysts at Telsey Advisory Group from $105.00 to $87.00 in a research note issued on Monday, StockNewsAPI reports. The firm currently has a “market perform” rating on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 12.26% from the company’s current price.

A number of other brokerages have also recently weighed in on SIG. Wells Fargo & Company reduced their price target on shares of Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Citigroup reaffirmed a “buy” rating and set a $119.00 price target on shares of Signet Jewelers in a research report on Friday, June 14th. Finally, StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Signet Jewelers presently has an average rating of “Moderate Buy” and an average target price of $112.60.

Signet Jewelers Stock Performance

Signet Jewelers stock opened at $77.50 on Monday. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 6.30, a price-to-earnings-growth ratio of 0.83 and a beta of 2.11. Signet Jewelers has a fifty-two week low of $65.12 and a fifty-two week high of $112.06. The stock’s fifty day moving average is $82.02 and its two-hundred day moving average is $92.92.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Thursday, June 13th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.29. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $1.78 EPS. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Signet Jewelers will post 10.6 EPS for the current fiscal year.

Insider Activity

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,334 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $87.94, for a total value of $293,191.96. Following the sale, the director now owns 29,418 shares of the company’s stock, valued at approximately $2,587,018.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Mary Elizabeth Finn sold 8,000 shares of Signet Jewelers stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $640,000.00. Following the completion of the sale, the insider now directly owns 46,821 shares of the company’s stock, valued at approximately $3,745,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eugenia Ulasewicz sold 3,334 shares of Signet Jewelers stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $87.94, for a total value of $293,191.96. Following the transaction, the director now owns 29,418 shares in the company, valued at $2,587,018.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,439 shares of company stock valued at $4,809,869. Insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new stake in shares of Signet Jewelers in the fourth quarter valued at approximately $342,000. BNP Paribas Financial Markets lifted its position in shares of Signet Jewelers by 28.2% during the 4th quarter. BNP Paribas Financial Markets now owns 65,723 shares of the company’s stock worth $7,049,000 after buying an additional 14,465 shares during the last quarter. Qsemble Capital Management LP bought a new stake in shares of Signet Jewelers during the 4th quarter worth $343,000. Dimensional Fund Advisors LP lifted its position in shares of Signet Jewelers by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,323,982 shares of the company’s stock worth $249,272,000 after buying an additional 51,397 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Signet Jewelers by 9.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,809 shares of the company’s stock worth $409,000 after buying an additional 317 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.