StockNews.com Upgrades Signet Jewelers (NYSE:SIG) to Buy

Signet Jewelers (NYSE:SIG - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday.

Several other research firms have also commented on SIG. UBS Group decreased their price target on shares of Signet Jewelers from $145.00 to $132.00 and set a "buy" rating for the company in a research report on Wednesday, September 11th. Bank of America decreased their price objective on shares of Signet Jewelers from $108.00 to $100.00 and set a "neutral" rating for the company in a research report on Friday, September 13th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $87.00 price objective on shares of Signet Jewelers in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Signet Jewelers from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $109.60.

Signet Jewelers Trading Up 1.0 %

Shares of NYSE SIG traded up $0.92 during mid-day trading on Tuesday, reaching $93.39. The company had a trading volume of 531,059 shares, compared to its average volume of 815,272. The business's 50-day moving average is $91.23 and its 200-day moving average is $91.69. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.04 and a beta of 2.10. Signet Jewelers has a 52 week low of $67.18 and a 52 week high of $112.06.

Signet Jewelers (NYSE:SIG - Get Free Report) last posted its quarterly earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.50 billion. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The business's revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. As a group, equities research analysts forecast that Signet Jewelers will post 10.8 earnings per share for the current year.

Insider Transactions at Signet Jewelers

In other news, CEO Virginia Drosos sold 600 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $101.25, for a total transaction of $60,750.00. Following the sale, the chief executive officer now owns 728,220 shares of the company's stock, valued at $73,732,275. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Virginia Drosos sold 600 shares of Signet Jewelers stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $101.25, for a total value of $60,750.00. Following the sale, the chief executive officer now owns 728,220 shares of the company's stock, valued at approximately $73,732,275. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction on Monday, October 21st. The shares were sold at an average price of $99.63, for a total transaction of $332,066.79. Following the completion of the sale, the director now directly owns 26,085 shares in the company, valued at $2,598,848.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,957 shares of company stock valued at $5,910,256 in the last 90 days. 3.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in shares of Signet Jewelers by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 28,081 shares of the company's stock worth $2,896,000 after acquiring an additional 8,024 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Signet Jewelers during the 3rd quarter worth $25,000. Murphy Pohlad Asset Management LLC raised its holdings in shares of Signet Jewelers by 1.5% during the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 28,325 shares of the company's stock worth $2,921,000 after acquiring an additional 425 shares during the period. Trajan Wealth LLC purchased a new position in shares of Signet Jewelers during the 3rd quarter worth $258,000. Finally, GW Henssler & Associates Ltd. purchased a new position in shares of Signet Jewelers during the 3rd quarter worth $227,000.

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.