Signet Jewelers (NYSE:SIG) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Signet Jewelers (NYSE:SIG) in a research note issued to investors on Tuesday morning,Benzinga reports. Telsey Advisory Group currently has a $96.00 price target on the stock.

Several other brokerages also recently commented on SIG. The Goldman Sachs Group upgraded shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. UBS Group boosted their price target on shares of Signet Jewelers from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Research downgraded shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Wall Street Zen lowered shares of Signet Jewelers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 22nd. Finally, Stephens began coverage on shares of Signet Jewelers in a research report on Tuesday, November 11th. They set an “overweight” rating and a $150.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Signet Jewelers Stock Down 0.6%

Shares of NYSE:SIG opened at $91.10 on Tuesday. The business’s 50 day moving average is $92.41 and its 200 day moving average is $93.70. Signet Jewelers has a 12-month low of $45.55 and a 12-month high of $110.20. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.01 and a beta of 1.25.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in Signet Jewelers by 16.5% during the fourth quarter. Pacer Advisors Inc. now owns 262,926 shares of the company’s stock worth $21,791,000 after buying an additional 37,238 shares during the last quarter. Invesco Ltd. boosted its stake in Signet Jewelers by 18.3% in the fourth quarter. Invesco Ltd. now owns 238,776 shares of the company’s stock valued at $19,790,000 after acquiring an additional 36,927 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Signet Jewelers by 21.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,548 shares of the company’s stock valued at $211,000 after acquiring an additional 445 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Signet Jewelers during the 4th quarter valued at approximately $221,000. Finally, Voloridge Investment Management LLC bought a new position in shares of Signet Jewelers during the 4th quarter valued at approximately $17,923,000.

Signet Jewelers Company Profile

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.