Signet Jewelers (NYSE:SIG) Lowered to “Hold” Rating by Wall Street Zen

Signet Jewelers (NYSE:SIG) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Citigroup raised their price objective on shares of Signet Jewelers from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Bank of America raised their price objective on shares of Signet Jewelers from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Wells Fargo & Company lifted their price target on shares of Signet Jewelers from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 4th. CL King initiated coverage on shares of Signet Jewelers in a research report on Monday, May 5th. They set a “buy” rating and a $80.00 price target for the company. Finally, Telsey Advisory Group lifted their price target on shares of Signet Jewelers from $80.00 to $92.00 and gave the company a “market perform” rating in a research report on Friday, July 25th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.86.

Signet Jewelers Trading Down 1.0%

Signet Jewelers stock opened at $82.00 on Friday. Signet Jewelers has a 12-month low of $45.55 and a 12-month high of $106.28. The stock has a market cap of $3.37 billion, a P/E ratio of 89.13, a PEG ratio of 0.75 and a beta of 1.40. The company has a 50-day moving average price of $80.54 and a 200 day moving average price of $65.82.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.17. Signet Jewelers had a net margin of 0.63% and a return on equity of 22.41%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business earned $1.11 earnings per share. Signet Jewelers’s revenue was up 2.0% compared to the same quarter last year. As a group, analysts forecast that Signet Jewelers will post 8.73 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Signet Jewelers by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,205,964 shares of the company’s stock valued at $302,258,000 after purchasing an additional 389,852 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Signet Jewelers by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,550,233 shares of the company’s stock valued at $205,830,000 after purchasing an additional 139,109 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Signet Jewelers by 175.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,859,503 shares of the company’s stock valued at $107,963,000 after purchasing an additional 1,183,214 shares during the period. Anomaly Capital Management LP boosted its stake in shares of Signet Jewelers by 862.5% in the fourth quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company’s stock valued at $142,253,000 after purchasing an additional 1,579,410 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Signet Jewelers by 5.2% in the second quarter. American Century Companies Inc. now owns 1,417,862 shares of the company’s stock valued at $112,791,000 after purchasing an additional 70,516 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.