Needham & Company LLC reaffirmed their buy rating on shares of Signet Jewelers (NYSE:SIG) in a report released on Wednesday, November 22nd. Needham & Company LLC currently has a $60.00 price target on the stock. The analysts noted that the move was a valuation call.
Several other brokerages have also recently commented on SIG. Wells Fargo & Company set a $97.00 price objective on shares of Signet Jewelers and gave the company a buy rating in a research note on Wednesday, August 23rd. BidaskClub upgraded shares of Signet Jewelers from a sell rating to a hold rating in a research note on Monday, July 31st. Buckingham Research restated a neutral rating and set a $51.00 target price on shares of Signet Jewelers in a research report on Saturday, August 26th. Cowen restated a market perform rating and set a $67.00 target price (up previously from $61.00) on shares of Signet Jewelers in a research report on Tuesday, September 12th. Finally, Zacks Investment Research cut shares of Signet Jewelers from a buy rating to a hold rating in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $66.00.
Shares of Signet Jewelers (NYSE:SIG) traded up $0.39 during trading hours on Wednesday, hitting $51.31. 1,374,151 shares of the stock traded hands, compared to its average volume of 1,917,828. The stock has a market capitalization of $3,045.97, a P/E ratio of 7.71, a price-to-earnings-growth ratio of 1.01 and a beta of 0.94. The company has a current ratio of 2.63, a quick ratio of 0.76 and a debt-to-equity ratio of 0.33. Signet Jewelers has a 1-year low of $46.09 and a 1-year high of $99.19.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia lifted its position in shares of Signet Jewelers by 5.6% during the second quarter. Commonwealth Bank of Australia now owns 1,609 shares of the company’s stock worth $101,000 after purchasing an additional 85 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new stake in Signet Jewelers in the second quarter valued at $121,000. Tower Research Capital LLC TRC raised its holdings in Signet Jewelers by 19.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,016 shares of the company’s stock valued at $128,000 after acquiring an additional 335 shares in the last quarter. Monroe Bank & Trust MI acquired a new stake in Signet Jewelers in the third quarter valued at $179,000. Finally, GSA Capital Partners LLP acquired a new stake in Signet Jewelers in the third quarter valued at $202,000.
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About Signet Jewelers
Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.
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