Wells Fargo & Company Cuts Signet Jewelers (NYSE:SIG) Price Target to $80.00

Signet Jewelers (NYSE:SIG - Get Free Report) had its price target dropped by research analysts at Wells Fargo & Company from $95.00 to $80.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 30.36% from the company's current price.

A number of other brokerages have also issued reports on SIG. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $55.00 target price on shares of Signet Jewelers in a research report on Wednesday, March 19th. UBS Group raised their price objective on shares of Signet Jewelers from $85.00 to $89.00 and gave the stock a "buy" rating in a report on Thursday. Bank of America cut their target price on shares of Signet Jewelers from $95.00 to $65.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Finally, StockNews.com downgraded Signet Jewelers from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $81.60.

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Signet Jewelers Stock Up 5.7 %

Shares of NYSE SIG traded up $3.31 during trading on Thursday, reaching $61.37. 1,748,971 shares of the stock were exchanged, compared to its average volume of 1,066,327. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20. The business's 50-day moving average price is $54.52 and its 200 day moving average price is $78.29. 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 has a twelve month low of $45.55 and a twelve month high of $112.06.

Signet Jewelers (NYSE:SIG - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, beating analysts' consensus estimates of $6.39 by $0.23. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.33 billion. During the same period in the prior year, the company posted $6.73 EPS. The firm's revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities analysts forecast that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $54.13, for a total transaction 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 represents a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cooper Creek Partners Management LLC increased its stake in shares of Signet Jewelers by 1,046.3% in the fourth quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company's stock valued at $152,495,000 after purchasing an additional 1,724,592 shares during the period. Anomaly Capital Management LP increased its position in Signet Jewelers by 862.5% in the 4th quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company's stock valued at $142,253,000 after acquiring an additional 1,579,410 shares during the period. Norges Bank bought a new stake in Signet Jewelers during the 4th quarter valued at $40,989,000. Schonfeld Strategic Advisors LLC boosted its position in Signet Jewelers by 2,648.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 304,021 shares of the company's stock worth $24,538,000 after acquiring an additional 292,961 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Signet Jewelers by 37.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,055,061 shares of the company's stock worth $85,155,000 after purchasing an additional 286,974 shares in 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.