Signet Jewelers (NYSE:SIG) Price Target Raised to $95.00

Signet Jewelers (NYSE:SIG) had its price target boosted by UBS Group from $84.00 to $95.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Cfra Research upgraded shares of Signet Jewelers to a “moderate buy” rating in a report on Thursday, March 20th. Telsey Advisory Group lifted their price target on shares of Signet Jewelers from $62.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday. CL King initiated coverage on Signet Jewelers in a report on Monday, May 5th. They issued a “buy” rating and a $80.00 price target for the company. Bank of America raised their price objective on Signet Jewelers from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their target price on Signet Jewelers from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.67.

Signet Jewelers Trading Up 4.1%

SIG opened at $77.86 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. The stock’s 50 day moving average price is $61.79 and its 200-day moving average price is $65.74. Signet Jewelers has a one year low of $45.55 and a one year high of $109.52. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 8.96, a P/E/G ratio of 3.43 and a beta of 1.36.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.01 by $0.17. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $1.11 EPS. Signet Jewelers’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Signet Jewelers will post 8.73 EPS for the current year.

Signet Jewelers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, July 25th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.28 annualized dividend and a yield of 1.64%. Signet Jewelers’s dividend payout ratio (DPR) is presently 139.13%.

Insider Transactions at Signet Jewelers

In other news, Director Helen Mccluskey acquired 1,700 shares of Signet Jewelers stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $58.86 per share, for a total transaction of $100,062.00. Following the purchase, the director now directly owns 31,916 shares in the company, valued at $1,878,575.76. The trade was a 5.63% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James Kevin Symancyk purchased 15,000 shares of the business’s stock in a transaction on Monday, March 31st. The stock was purchased at an average cost of $57.45 per share, for a total transaction of $861,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 50,710 shares of the company’s stock, valued at approximately $2,913,289.50. The trade was a 42.01% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SIG. Strs Ohio purchased a new stake in shares of Signet Jewelers during the first quarter worth about $598,000. Bayforest Capital Ltd purchased a new stake in Signet Jewelers during the 1st quarter worth approximately $1,095,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Signet Jewelers by 9.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,573 shares of the company’s stock worth $7,117,000 after purchasing an additional 10,964 shares during the last quarter. Optimize Financial Inc increased its stake in Signet Jewelers by 118.7% during the 1st quarter. Optimize Financial Inc now owns 14,416 shares of the company’s stock valued at $837,000 after purchasing an additional 7,825 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Signet Jewelers by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company’s stock worth $49,333,000 after buying an additional 213,365 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.