Wells Fargo & Company Reiterates Equal Weight Rating for Signet Jewelers (NYSE:SIG)

Signet Jewelers (NYSE:SIG)‘s stock had its “equal weight” rating restated by stock analysts at Wells Fargo & Company in a research note issued on Tuesday, MarketBeat Ratings reports. They presently have a $70.00 target price on the stock, down from their previous target price of $80.00. Wells Fargo & Company‘s price target indicates a potential upside of 18.40% from the company’s previous close.

A number of other equities research analysts have also weighed in on SIG. Telsey Advisory Group restated a “market perform” rating and issued a $55.00 price objective on shares of Signet Jewelers in a report on Wednesday, March 19th. Bank of America reduced their price objective on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. UBS Group boosted their target price on shares of Signet Jewelers from $85.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Finally, Cfra Research upgraded shares of Signet Jewelers to a “moderate buy” rating in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Signet Jewelers currently has a consensus rating of “Hold” and a consensus target price of $79.60.

Signet Jewelers Stock Performance

Shares of SIG stock opened at $59.12 on Tuesday. The firm has a 50-day moving average of $53.87 and a 200-day moving average of $75.34. The company has a market cap of $2.54 billion, a P/E ratio of 6.80, a P/E/G ratio of 3.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25. Signet Jewelers has a one year low of $45.55 and a one year high of $112.06.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, topping the consensus estimate of $6.39 by $0.23. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the company earned $6.73 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. Equities research analysts forecast that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $54.13, for a total transaction of $180,415.29. Following the completion of the sale, the director now directly owns 22,752 shares of the company’s stock, valued at $1,231,565.76. This trade represents a 12.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Kevin Symancyk bought 15,000 shares of the stock in a transaction dated Monday, March 31st. The shares were purchased at an average price of $57.45 per share, with a total value of $861,750.00. Following the completion of the transaction, the chief executive officer now directly owns 50,710 shares in the company, valued at approximately $2,913,289.50. The trade was a 42.01 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cooper Creek Partners Management LLC lifted its position in Signet Jewelers by 1,046.3% in the fourth quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company’s stock worth $152,495,000 after buying an additional 1,724,592 shares during the last quarter. Anomaly Capital Management LP lifted its position in Signet Jewelers by 862.5% in the fourth quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company’s stock worth $142,253,000 after buying an additional 1,579,410 shares during the last quarter. Norges Bank bought a new stake in Signet Jewelers in the fourth quarter worth $40,989,000. Schonfeld Strategic Advisors LLC lifted its position in Signet Jewelers by 2,648.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 304,021 shares of the company’s stock worth $24,538,000 after buying an additional 292,961 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Signet Jewelers by 37.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,055,061 shares of the company’s stock worth $85,155,000 after purchasing an additional 286,974 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.