Telsey Advisory Group Reaffirms “Market Perform” Rating for Signet Jewelers (NYSE:SIG)

Signet Jewelers (NYSE:SIG)‘s stock had its “market perform” rating reissued by equities research analysts at Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They presently have a $87.00 price target on the stock. Telsey Advisory Group’s price objective would indicate a potential downside of 14.78% from the company’s previous close.

SIG has been the topic of several other research reports. StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. UBS Group decreased their price objective on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Bank of America cut their target price on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Finally, Wells Fargo & Company boosted their target price on Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Signet Jewelers currently has an average rating of “Moderate Buy” and an average target price of $109.60.

Signet Jewelers Stock Down 2.0 %

NYSE:SIG opened at $102.09 on Wednesday. The firm has a market capitalization of $4.50 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.18 and a beta of 2.12. Signet Jewelers has a 12-month low of $72.26 and a 12-month high of $112.06. The firm has a 50-day moving average price of $96.86 and a 200 day moving average price of $91.57.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $1.55 EPS. Signet Jewelers’s revenue was down 7.6% on a year-over-year basis. On average, research analysts expect that Signet Jewelers will post 10.8 EPS for the current year.

Insider Transactions at Signet Jewelers

In other news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the transaction, the director now owns 26,085 shares in the company, valued at $2,598,848.55. The trade was a 11.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Virginia Drosos sold 3,475 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $101.67, for a total value of $353,303.25. Following the sale, the chief executive officer now directly owns 775,345 shares of the company’s stock, valued at approximately $78,829,326.15. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,957 shares of company stock worth $4,599,306. 3.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Select Equity Group L.P. boosted its position in shares of Signet Jewelers by 2.9% during the second quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock worth $622,562,000 after buying an additional 193,977 shares during the period. Dimensional Fund Advisors LP lifted its stake in Signet Jewelers by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock valued at $213,809,000 after acquiring an additional 149,934 shares in the last quarter. Pacer Advisors Inc. boosted its position in Signet Jewelers by 6.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock worth $185,347,000 after acquiring an additional 126,726 shares during the last quarter. State Street Corp grew its stake in shares of Signet Jewelers by 1.0% during the 3rd quarter. State Street Corp now owns 1,756,075 shares of the company’s stock worth $181,122,000 after acquiring an additional 16,912 shares in the last quarter. Finally, Eminence Capital LP grew its stake in shares of Signet Jewelers by 71.3% during the 2nd quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after acquiring an additional 351,588 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.