Signet Jewelers (NYSE:SIG) Stock Rating Upgraded by StockNews.com

Signet Jewelers (NYSE:SIG) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other research firms have also recently commented on SIG. Bank of America reduced their price target on shares of Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, March 21st. UBS Group raised their price target on shares of Signet Jewelers from $128.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Telsey Advisory Group raised their price target on shares of Signet Jewelers from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Finally, Wells Fargo & Company raised their price target on shares of Signet Jewelers from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Signet Jewelers presently has an average rating of “Moderate Buy” and a consensus target price of $120.20.

Signet Jewelers Price Performance

Shares of SIG traded up $1.48 during trading hours on Friday, hitting $95.46. 653,023 shares of the stock were exchanged, compared to its average volume of 722,204. Signet Jewelers has a fifty-two week low of $57.10 and a fifty-two week high of $109.17. The business has a 50-day moving average of $100.05 and a 200-day moving average of $92.17. The firm has a market capitalization of $4.23 billion, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 1.14 and a beta of 2.13.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $6.73 earnings per share for the quarter, topping the consensus estimate of $6.33 by $0.40. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Signet Jewelers had a net margin of 11.30% and a return on equity of 32.26%. Signet Jewelers’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $5.52 earnings per share. As a group, analysts forecast that Signet Jewelers will post 10.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, insider Howard A. Melnick sold 1,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $99.60, for a total value of $99,600.00. Following the transaction, the insider now directly owns 65,999 shares of the company’s stock, valued at $6,573,500.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Howard A. Melnick sold 1,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $99.60, for a total transaction of $99,600.00. Following the transaction, the insider now directly owns 65,999 shares of the company’s stock, valued at $6,573,500.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Virginia Drosos sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $99.85, for a total transaction of $998,500.00. Following the transaction, the chief executive officer now directly owns 922,740 shares in the company, valued at $92,135,589. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,254 shares of company stock valued at $5,558,494. Corporate insiders own 4.54% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Belpointe Asset Management LLC lifted its position in shares of Signet Jewelers by 67.9% during the first quarter. Belpointe Asset Management LLC now owns 403 shares of the company’s stock valued at $31,000 after purchasing an additional 163 shares in the last quarter. Quarry LP boosted its stake in Signet Jewelers by 274.1% in the first quarter. Quarry LP now owns 404 shares of the company’s stock valued at $31,000 after acquiring an additional 296 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in Signet Jewelers by 37.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock valued at $50,000 after acquiring an additional 127 shares during the last quarter. Ronald Blue Trust Inc. boosted its stake in Signet Jewelers by 187.2% in the third quarter. Ronald Blue Trust Inc. now owns 494 shares of the company’s stock valued at $35,000 after acquiring an additional 322 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Signet Jewelers in the fourth quarter valued at about $64,000.

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.