Signet Jewelers (NYSE:SIG) PT Raised to $110.00

Signet Jewelers (NYSE:SIG) had its price target hoisted by stock analysts at Wells Fargo & Company from $105.00 to $110.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 17.85% from the stock’s previous close.

SIG has been the topic of a number of other research reports. Bank of America reduced their target price on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. UBS Group lowered their target price on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $87.00 target price on shares of Signet Jewelers in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.60.

Signet Jewelers Stock Down 2.4 %

Shares of SIG traded down $2.31 during mid-day trading on Wednesday, reaching $93.34. 211,277 shares of the company’s stock were exchanged, compared to its average volume of 814,384. The company has a 50-day simple moving average of $89.64 and a two-hundred day simple moving average of $91.96. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.14 and a beta of 2.10. Signet Jewelers has a 52-week low of $67.18 and a 52-week high of $112.06.

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

Insiders Place Their Bets

In other news, CEO Virginia Drosos sold 3,475 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 775,345 shares of the company’s stock, valued at approximately $78,829,326.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Oded Edelman sold 9,000 shares of Signet Jewelers stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $74.55, for a total value of $670,950.00. Following the transaction, the insider now directly owns 28,398 shares of the company’s stock, valued at $2,117,070.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Virginia Drosos sold 3,475 shares of Signet Jewelers stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $101.67, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,624 shares of company stock worth $4,821,629. Insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Signet Jewelers during the second quarter worth approximately $51,000. Hexagon Capital Partners LLC raised its holdings in Signet Jewelers by 33.4% in the 2nd quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock valued at $63,000 after acquiring an additional 175 shares in the last quarter. Blue Trust Inc. grew 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 valued at $82,000 after purchasing an additional 122 shares during the period. CWM LLC grew its stake in shares of Signet Jewelers by 177.3% in the 3rd quarter. CWM LLC now owns 1,148 shares of the company’s stock valued at $118,000 after purchasing an additional 734 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Signet Jewelers in the 2nd quarter valued at approximately $180,000.

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.