Wells Fargo & Company Reiterates Equal Weight Rating for Signet Jewelers (NYSE:SIG)

Signet Jewelers (NYSE:SIG)‘s stock had its “equal weight” rating reiterated by Wells Fargo & Company in a report issued on Tuesday, MarketBeat reports. They presently have a $70.00 target price on the stock, down from their prior target price of $80.00. Wells Fargo & Company‘s price target indicates a potential upside of 18.40% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. 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. Telsey Advisory Group restated a “market perform” rating and set a $55.00 price objective on shares of Signet Jewelers in a research report on Wednesday, March 19th. Cfra Research upgraded Signet Jewelers to a “moderate buy” rating in a report on Thursday, March 20th. Finally, Bank of America cut their price target on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.60.

Signet Jewelers Stock Performance

Shares of SIG stock opened at $59.12 on Tuesday. The stock’s 50-day moving average is $53.87 and its two-hundred day moving average is $75.34. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 3.43 and a beta of 1.63. Signet Jewelers has a 1 year low of $45.55 and a 1 year high of $112.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) 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 analyst estimates of $2.33 billion. During the same quarter last year, the company posted $6.73 earnings per share. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. Analysts predict that Signet Jewelers will post 8.73 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Signet Jewelers by 62,103.4% in the first quarter. GAMMA Investing LLC now owns 145,556 shares of the company’s stock worth $8,451,000 after purchasing an additional 145,322 shares in the last quarter. Versant Capital Management Inc raised its holdings in Signet Jewelers by 40.5% in the 1st quarter. Versant Capital Management Inc now owns 773 shares of the company’s stock valued at $45,000 after acquiring an additional 223 shares during the period. PKO Investment Management Joint Stock Co bought a new position in shares of Signet Jewelers during the fourth quarter worth approximately $565,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Signet Jewelers during the 4th quarter worth $297,000. Finally, Mackenzie Financial Corp grew its stake in shares of Signet Jewelers by 4.9% in the fourth quarter. Mackenzie Financial Corp now owns 15,227 shares of the company’s stock valued at $1,229,000 after acquiring an additional 706 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.