Signet Jewelers’ (SIG) Market Perform Rating Reiterated at Telsey Advisory Group

Signet Jewelers (NYSE:SIG)‘s stock had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $87.00 price target on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 0.25% from the company’s previous close.

A number of other brokerages have also recently commented on SIG. UBS Group reduced their price objective 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. StockNews.com raised Signet Jewelers from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Bank of America cut their target price on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Finally, Wells Fargo & Company increased their price objective on Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Signet Jewelers has an average rating of “Moderate Buy” and an average price target of $109.60.

Signet Jewelers Stock Performance

Shares of Signet Jewelers stock traded down $11.95 during trading hours on Thursday, hitting $86.78. The company’s stock had a trading volume of 2,905,855 shares, compared to its average volume of 826,118. Signet Jewelers has a twelve month low of $72.26 and a twelve month high of $112.06. The firm has a fifty day moving average of $97.31 and a 200-day moving average of $91.62. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 1.11 and a beta of 2.10.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company earned $0.24 EPS. Signet Jewelers’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, sell-side analysts expect that Signet Jewelers will post 10.8 earnings per share for the current fiscal year.

Insider Activity

In other Signet Jewelers news, CEO Virginia Drosos sold 3,475 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 775,345 shares in the company, valued at approximately $78,829,326.15. This represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction dated 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 in the company, valued at $2,598,848.55. This trade represents a 11.33 % 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 quarter. Company insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

Large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Signet Jewelers during the third quarter worth about $25,000. Brown Brothers Harriman & Co. acquired a new position in shares of Signet Jewelers during the second quarter valued at approximately $51,000. Hexagon Capital Partners LLC boosted its stake in Signet Jewelers by 33.4% during the 2nd quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock worth $63,000 after purchasing an additional 175 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Signet Jewelers in the 3rd quarter worth approximately $77,000. Finally, Blue Trust Inc. increased its stake in shares of Signet Jewelers by 15.3% in the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after acquiring an additional 122 shares during the last quarter.

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.