Signet Jewelers (NYSE:SIG) Earns Equal Weight Rating from Wells Fargo & Company

Signet Jewelers (NYSE:SIG - Get Free Report)'s stock had its "equal weight" rating reiterated by research analysts at Wells Fargo & Company in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $70.00 price target on the stock, down from their prior price target of $80.00. Wells Fargo & Company's target price would indicate a potential upside of 20.37% from the stock's current price.

Several other equities analysts have also recently issued reports on SIG. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $55.00 price objective on shares of Signet Jewelers in a research report on Wednesday, March 19th. Bank of America dropped their price objective on shares of Signet Jewelers from $95.00 to $65.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Cfra Research upgraded Signet Jewelers to a "moderate buy" rating in a research report on Thursday, March 20th. Finally, UBS Group raised their price objective on shares of Signet Jewelers from $85.00 to $89.00 and gave the company a "buy" rating in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $79.60.

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Signet Jewelers Stock Up 0.6 %

NYSE:SIG traded up $0.37 during mid-day trading on Tuesday, hitting $58.15. 1,110,458 shares of the company's stock were exchanged, compared to its average volume of 1,135,682. The company has a market cap of $2.49 billion, a PE ratio of 6.69, a P/E/G ratio of 3.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25. Signet Jewelers has a one year low of $45.55 and a one year high of $112.06. The business has a fifty day moving average price of $53.89 and a 200 day moving average price of $74.76.

Signet Jewelers (NYSE:SIG - Get Free Report) last posted its quarterly earnings results on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, topping the consensus estimate of $6.39 by $0.23. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the business posted $6.73 EPS. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. Equities analysts predict that Signet Jewelers will post 8.73 EPS for the current year.

Insiders Place Their Bets

In related news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $54.13, for a total value of $180,415.29. Following the completion of the transaction, the director now owns 22,752 shares in the company, valued at approximately $1,231,565.76. This trade represents a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Kevin Symancyk acquired 15,000 shares of the firm's stock in a transaction on Monday, March 31st. The shares were bought at an average price of $57.45 per share, for a total transaction of $861,750.00. Following the completion of the transaction, the chief executive officer now owns 50,710 shares of the company's stock, valued at approximately $2,913,289.50. This trade represents a 42.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.26% of the company's stock.

Hedge Funds Weigh In On Signet Jewelers

Several large investors have recently modified their holdings of SIG. Grace & White Inc. NY increased its position in Signet Jewelers by 6.1% during the fourth quarter. Grace & White Inc. NY now owns 207,262 shares of the company's stock valued at $16,728,000 after acquiring an additional 11,900 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Signet Jewelers by 22.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 61,568 shares of the company's stock worth $4,969,000 after purchasing an additional 11,218 shares during the period. Magnetar Financial LLC bought a new position in Signet Jewelers during the 4th quarter valued at about $2,418,000. Norges Bank purchased a new stake in Signet Jewelers in the 4th quarter worth about $40,989,000. Finally, Van ECK Associates Corp lifted its stake in Signet Jewelers by 30.5% in the fourth quarter. Van ECK Associates Corp now owns 36,655 shares of the company's stock worth $2,958,000 after purchasing an additional 8,574 shares during the last quarter.

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.