Signet Jewelers (NYSE:SIG) Price Target Cut to $95.00 by Analysts at Wells Fargo & Company

Signet Jewelers (NYSE:SIG - Get Free Report) had its target price reduced by analysts at Wells Fargo & Company from $110.00 to $95.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 61.26% from the stock's previous close.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Signet Jewelers from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Telsey Advisory Group decreased their target price 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, Bank of America dropped their price target on shares of Signet Jewelers from $95.00 to $65.00 and set a "neutral" rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Signet Jewelers currently has a consensus rating of "Moderate Buy" and an average price target of $95.20.

Signet Jewelers Stock Up 1.6 %

Shares of SIG stock traded up $0.91 during trading on Wednesday, reaching $58.91. The company's stock had a trading volume of 3,878,257 shares, compared to its average volume of 2,661,140. Signet Jewelers has a one year low of $54.44 and a one year high of $112.06. The business has a fifty day moving average price of $88.01 and a 200-day moving average price of $87.81. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 6.78, a price-to-earnings-growth ratio of 1.04 and a beta of 2.13. 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 issued its quarterly earnings results on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). The business 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%. The company's quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. Analysts anticipate that Signet Jewelers will post 9.88 earnings per share for the current year.

Insider Transactions at Signet Jewelers

In other news, insider Joan M. Hilson sold 8,000 shares of the 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 transaction, the insider now owns 200,844 shares in the company, valued at approximately $18,993,817.08. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $99.63, for a total value of $332,066.79. Following the sale, the director now directly owns 26,085 shares of the company's stock, valued at approximately $2,598,848.55. The trade was a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Signet Jewelers in the third quarter valued at about $25,000. Brown Brothers Harriman & Co. acquired a new stake in Signet Jewelers in the 2nd quarter worth about $51,000. Erste Asset Management GmbH acquired a new stake in Signet Jewelers in the 3rd quarter worth about $77,000. CWM LLC boosted its holdings in Signet Jewelers by 177.3% in the 3rd quarter. CWM LLC now owns 1,148 shares of the company's stock valued at $118,000 after purchasing an additional 734 shares during the period. Finally, KBC Group NV grew its position in shares of Signet Jewelers by 25.5% during the 3rd quarter. KBC Group NV now owns 1,293 shares of the company's stock worth $133,000 after purchasing an additional 263 shares in 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.