StockNews.com Downgrades Signet Jewelers (NYSE:SIG) to Hold

Signet Jewelers (NYSE:SIG - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report issued on Wednesday.

A number of other research analysts also recently issued reports on SIG. Wells Fargo & Company lifted their price target on shares of Signet Jewelers from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. UBS Group cut their price objective on shares of Signet Jewelers from $145.00 to $132.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Bank of America cut their target price on shares of Signet Jewelers from $108.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, September 13th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $87.00 target price on shares of Signet Jewelers in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $109.60.

Signet Jewelers Stock Performance

Shares of NYSE SIG traded up $5.62 during mid-day trading on Wednesday, reaching $97.30. The company's stock had a trading volume of 1,282,875 shares, compared to its average volume of 814,832. The stock has a 50-day moving average of $92.37 and a two-hundred day moving average of $91.56. The stock has a market capitalization of $4.29 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.03 and a beta of 2.12. Signet Jewelers has a 1-year low of $68.15 and a 1-year high of $112.06.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its quarterly earnings data on Thursday, September 12th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The firm had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the business earned $1.55 earnings per share. Signet Jewelers's revenue was down 7.6% compared to the same quarter last year. Analysts predict that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Insider Transactions at Signet Jewelers

In other news, CEO Virginia Drosos sold 3,475 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $101.67, for a total transaction of $353,303.25. Following the transaction, the chief executive officer now directly owns 775,345 shares in the company, valued at $78,829,326.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Virginia Drosos sold 3,475 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $101.67, for a total value of $353,303.25. Following the transaction, the chief executive officer now owns 775,345 shares in the company, valued at approximately $78,829,326.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Oded Edelman sold 1,398 shares of Signet Jewelers stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $94.53, for a total transaction of $132,152.94. Following the sale, the insider now owns 32,666 shares in the company, valued at $3,087,916.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,957 shares of company stock worth $5,910,256 in the last three months. Company insiders own 3.26% of the company's stock.

Institutional Trading of Signet Jewelers

A number of hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new position in shares of Signet Jewelers during the third quarter valued at $25,000. Brown Brothers Harriman & Co. acquired a new position in shares of Signet Jewelers during the second quarter valued at $51,000. Hexagon Capital Partners LLC boosted its holdings in shares of Signet Jewelers by 33.4% during the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company's stock valued at $63,000 after acquiring an additional 175 shares during the period. Blue Trust Inc. boosted its holdings in shares of Signet Jewelers by 15.3% during the second quarter. Blue Trust Inc. now owns 917 shares of the company's stock valued at $82,000 after acquiring an additional 122 shares during the period. Finally, CWM LLC boosted its holdings in shares of Signet Jewelers by 177.3% during the third quarter. CWM LLC now owns 1,148 shares of the company's stock valued at $118,000 after acquiring an additional 734 shares during the period.

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.