Wells Fargo & Company Lowers Signet Jewelers (NYSE:SIG) Price Target to $95.00

Signet Jewelers (NYSE:SIG - Get Free Report) had its price objective reduced by equities researchers at Wells Fargo & Company from $110.00 to $95.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 68.02% from the stock's previous close.

Several other equities research analysts have also commented on the stock. Bank of America reduced their price target on shares of Signet Jewelers from $95.00 to $65.00 and set a "neutral" rating for the company in a report on Wednesday. Telsey Advisory Group reduced their price objective on shares of Signet Jewelers from $87.00 to $65.00 and set a "market perform" rating for the company in a research note on Wednesday. Finally, StockNews.com cut Signet Jewelers from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Signet Jewelers presently has an average rating of "Moderate Buy" and an average target price of $95.20.

Signet Jewelers Trading Down 4.0 %

NYSE:SIG traded down $2.38 during midday trading on Wednesday, hitting $56.54. The stock had a trading volume of 2,908,245 shares, compared to its average volume of 2,637,234. The stock has a 50-day moving average of $87.24 and a 200 day moving average of $87.61. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 0.95 and a beta of 2.13. Signet Jewelers has a one year low of $54.44 and a one year high of $112.06. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG - Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.05). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. Signet Jewelers's quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. As a group, sell-side analysts forecast that Signet Jewelers will post 9.88 EPS for the current year.

Insider Transactions at Signet Jewelers

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $99.63, for a total transaction of $332,066.79. Following the transaction, the director now owns 26,085 shares in the company, valued at $2,598,848.55. This represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joan M. Hilson sold 8,000 shares of Signet Jewelers stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $94.57, for a total transaction of $756,560.00. Following the completion of the sale, the insider now owns 200,844 shares of the company's stock, valued at $18,993,817.08. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.26% of the company's stock.

Hedge Funds Weigh In On Signet Jewelers

Several hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management lifted its position in Signet Jewelers by 4.9% during the 3rd quarter. Ritholtz Wealth Management now owns 2,459 shares of the company's stock worth $254,000 after acquiring an additional 115 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Signet Jewelers during the third quarter worth about $25,000. Cetera Investment Advisers boosted its position in Signet Jewelers by 2.2% in 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 last quarter. KBC Group NV increased its holdings in Signet Jewelers by 25.5% in the 3rd quarter. KBC Group NV now owns 1,293 shares of the company's stock worth $133,000 after buying an additional 263 shares during the period. Finally, Franklin Resources Inc. raised its position in Signet Jewelers by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 34,122 shares of the company's stock worth $3,330,000 after buying an additional 288 shares during the last quarter.

Signet Jewelers Company Profile

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.