Signet Jewelers (NYSE:SIG) Stock Rating Upgraded by StockNews.com

Signet Jewelers (NYSE:SIG) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other equities analysts have also weighed in on the company. Bank of America decreased their target price on Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st. UBS Group boosted their target price on Signet Jewelers from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Telsey Advisory Group boosted their target price on Signet Jewelers from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company boosted their target price on Signet Jewelers from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.20.

Signet Jewelers Stock Up 1.6 %

NYSE SIG opened at $95.47 on Friday. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 6.37, a price-to-earnings-growth ratio of 1.11 and a beta of 2.13. The business has a 50-day moving average price of $100.05 and a 200-day moving average price of $92.32. Signet Jewelers has a twelve month low of $57.10 and a twelve month high of $109.17.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Wednesday, March 20th. The company reported $6.73 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $0.40. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.55 billion. Signet Jewelers had a return on equity of 32.26% and a net margin of 11.30%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.52 earnings per share. Research analysts expect that Signet Jewelers will post 10.6 EPS for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, insider Howard A. Melnick sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $99.60, for a total transaction of $99,600.00. Following the sale, the insider now directly owns 65,999 shares in the company, valued at $6,573,500.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Howard A. Melnick sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $99.60, for a total transaction of $99,600.00. Following the transaction, the insider now owns 65,999 shares of the company’s stock, valued at $6,573,500.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director H. Todd Stitzer sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $102.41, for a total value of $512,050.00. Following the transaction, the director now directly owns 56,678 shares in the company, valued at approximately $5,804,393.98. The disclosure for this sale can be found here. Insiders have sold a total of 56,254 shares of company stock worth $5,558,494 over the last ninety days. Company insiders own 4.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC grew its stake in Signet Jewelers by 67.9% in the first quarter. Belpointe Asset Management LLC now owns 403 shares of the company’s stock worth $31,000 after purchasing an additional 163 shares in the last quarter. Quarry LP grew its stake in Signet Jewelers by 274.1% in the first quarter. Quarry LP now owns 404 shares of the company’s stock worth $31,000 after purchasing an additional 296 shares in the last quarter. Ronald Blue Trust Inc. grew its stake in Signet Jewelers by 187.2% in the third quarter. Ronald Blue Trust Inc. now owns 494 shares of the company’s stock worth $35,000 after purchasing an additional 322 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in Signet Jewelers by 37.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock worth $50,000 after purchasing an additional 127 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new position in Signet Jewelers in the first quarter worth approximately $51,000.

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.