Signet Jewelers (NYSE:SIG) Stock Rating Cut to Hold at Zacks Research

Zacks Research downgraded shares of Signet Jewelers (NYSE:SIG) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks reports.

SIG has been the subject of several other research reports. Stephens reissued an “overweight” rating and set a $130.00 price target on shares of Signet Jewelers in a report on Tuesday, September 8th. Citigroup increased their price objective on shares of Signet Jewelers from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Raymond James Financial lifted their price objective on shares of Signet Jewelers from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. The Goldman Sachs Group boosted their target price on shares of Signet Jewelers from $96.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, September 10th. Finally, UBS Group boosted their target price on shares of Signet Jewelers from $122.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Signet Jewelers presently has an average rating of “Moderate Buy” and a consensus price target of $125.56.

Signet Jewelers Stock Up 1.5%

Shares of SIG stock opened at $120.36 on Monday. The company has a market cap of $4.61 billion, a P/E ratio of 13.87, a PEG ratio of 0.65 and a beta of 1.05. The business has a 50 day moving average of $106.45 and a two-hundred day moving average of $93.10. Signet Jewelers has a 52 week low of $71.61 and a 52 week high of $129.26.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.50. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Signet Jewelers had a return on equity of 23.28% and a net margin of 5.19%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 EPS. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. Analysts expect that Signet Jewelers will post 11.70 EPS for the current fiscal year.

Signet Jewelers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, October 23rd. Signet Jewelers’s dividend payout ratio (DPR) is 16.13%.

Insider Buying and Selling at Signet Jewelers

In related news, insider Stash Ptak sold 405 shares of Signet Jewelers stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $48,600.00. Following the sale, the insider directly owned 20,428 shares in the company, valued at $2,451,360. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

Several large investors have recently bought and sold shares of SIG. Ameritas Advisory Services LLC bought a new stake in shares of Signet Jewelers during the 2nd quarter worth about $32,000. Parallel Advisors LLC boosted its holdings in shares of Signet Jewelers by 101.0% in the first quarter. Parallel Advisors LLC now owns 394 shares of the company’s stock valued at $33,000 after acquiring an additional 198 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Signet Jewelers by 720.5% during the third quarter. Global Retirement Partners LLC now owns 320 shares of the company’s stock worth $33,000 after purchasing an additional 281 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in Signet Jewelers by 100.9% during the third quarter. Salomon & Ludwin LLC now owns 450 shares of the company’s stock worth $46,000 after purchasing an additional 226 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Signet Jewelers by 46.2% in the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $86,000 after purchasing an additional 266 shares during the period.

About Signet Jewelers

Signet Jewelers is a specialty jewelry retailer that sells diamond, bridal and fashion jewelry, watches, and related services through a portfolio of retail brands. Its brands include Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, James Allen, Blue Nile, H.Samuel, Ernest Jones, and Peoples Jewellers. The company serves customers through stores and online channels in the United States, Canada, and the United Kingdom. Its offerings include engagement and wedding jewelry, jewelry repair, customization, and piercing services.