Signet Jewelers (NYSE:SIG) Downgraded to “Hold” at StockNews.com

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

A number of other brokerages also recently weighed in on SIG. UBS Group upped their price target on shares of Signet Jewelers from $128.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Bank of America decreased their price target on shares of Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, March 21st. Finally, Telsey Advisory Group increased their price objective on shares of Signet Jewelers from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $120.20.

Signet Jewelers Stock Performance

Shares of SIG stock opened at $101.82 on Friday. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 1.16 and a beta of 2.13. The company has a 50-day simple moving average of $99.57 and a 200 day simple moving average of $93.24. Signet Jewelers has a 52 week low of $57.10 and a 52 week high of $109.17.

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

Insider Activity

In other news, insider Oded Edelman sold 7,911 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $105.36, for a total value of $833,502.96. Following the completion of the sale, the insider now owns 33,378 shares in the company, valued at $3,516,706.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Mary Elizabeth Finn sold 5,431 shares of Signet Jewelers stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $89.53, for a total value of $486,237.43. Following the completion of the transaction, the insider now owns 60,416 shares in the company, valued at $5,409,044.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Oded Edelman sold 7,911 shares of Signet Jewelers stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $105.36, for a total transaction of $833,502.96. Following the completion of the transaction, the insider now owns 33,378 shares of the company’s stock, valued at approximately $3,516,706.08. The disclosure for this sale can be found here. Insiders sold a total of 47,254 shares of company stock worth $4,669,294 over the last quarter. Insiders own 4.54% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

Several large investors have recently modified their holdings of the business. SummerHaven Investment Management LLC increased its stake in shares of Signet Jewelers by 1.1% in the fourth quarter. SummerHaven Investment Management LLC now owns 10,163 shares of the company’s stock worth $1,090,000 after purchasing an additional 106 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Signet Jewelers by 37.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock valued at $50,000 after acquiring an additional 127 shares during the period. Commerce Bank boosted its position in shares of Signet Jewelers by 5.3% in the fourth quarter. Commerce Bank now owns 2,941 shares of the company’s stock valued at $315,000 after acquiring an additional 148 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Signet Jewelers by 5.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock valued at $303,000 after acquiring an additional 156 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Signet Jewelers by 1.8% in the third quarter. Arizona State Retirement System now owns 12,282 shares of the company’s stock valued at $882,000 after acquiring an additional 215 shares during the period.

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.