StockNews.com Lowers Signet Jewelers (NYSE:SIG) to Hold

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

SIG has been the topic of several other reports. Wells Fargo & Company lowered their price target on shares of Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Telsey Advisory Group reiterated a “market perform” rating and set a $105.00 price target on shares of Signet Jewelers in a report on Wednesday, July 24th. Finally, Citigroup reiterated a “buy” rating and issued a $119.00 price objective on shares of Signet Jewelers in a research report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Signet Jewelers presently has an average rating of “Moderate Buy” and a consensus price target of $116.20.

Signet Jewelers Trading Down 4.2 %

Shares of SIG stock opened at $80.55 on Wednesday. The company’s fifty day simple moving average is $82.66 and its 200-day simple moving average is $93.49. The company has a market cap of $3.59 billion, a PE ratio of 6.55, a P/E/G ratio of 0.90 and a beta of 2.16. Signet Jewelers has a 52 week low of $65.12 and a 52 week high of $112.06.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, June 13th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.82 by $0.29. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company posted $1.78 earnings per share. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. Equities research analysts expect that Signet Jewelers will post 10.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Signet Jewelers news, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $91.81, for a total transaction of $734,480.00. Following the sale, the insider now directly owns 189,231 shares of the company’s stock, valued at approximately $17,373,298.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Signet Jewelers news, insider Joan M. Hilson sold 8,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $91.81, for a total value of $734,480.00. Following the transaction, the insider now owns 189,231 shares in the company, valued at $17,373,298.11. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Oded Edelman sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $74.55, for a total transaction of $670,950.00. Following the completion of the transaction, the insider now directly owns 28,398 shares in the company, valued at approximately $2,117,070.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,439 shares of company stock worth $4,809,869. Company insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

A number of hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers increased its stake in shares of Signet Jewelers by 2.2% during the second quarter. Cetera Investment Advisers now owns 11,793 shares of the company’s stock valued at $1,056,000 after buying an additional 257 shares during the period. Truist Financial Corp raised its stake in Signet Jewelers by 204.3% in the second quarter. Truist Financial Corp now owns 10,062 shares of the company’s stock worth $901,000 after buying an additional 6,755 shares in the last quarter. Creative Planning lifted its holdings in Signet Jewelers by 46.2% in the second quarter. Creative Planning now owns 7,798 shares of the company’s stock worth $699,000 after buying an additional 2,464 shares during the period. MidWestOne Financial Group Inc. boosted its position in Signet Jewelers by 63.3% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 16,974 shares of the company’s stock valued at $1,521,000 after acquiring an additional 6,579 shares in the last quarter. Finally, Select Equity Group L.P. grew its holdings in shares of Signet Jewelers by 2.9% during the 2nd quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock worth $622,562,000 after acquiring an additional 193,977 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.