Signet Jewelers (NYSE:SIG) was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, March 15th, MarketBeat reports. They presently have a $74.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 97.70% from the stock’s current price.
Several other brokerages also recently commented on SIG. Wells Fargo downgraded shares of Signet Jewelers from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $75.00 to $60.00 in a research note on Tuesday, November 21st. Zacks Investment Research downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. ValuEngine downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Royal Bank of Canada downgraded shares of Signet Jewelers from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $60.00 to $55.00 in a research note on Friday, January 12th. Finally, Vetr downgraded shares of Signet Jewelers from a “strong-buy” rating to a “buy” rating and set a $57.72 target price for the company. in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $52.65.
SIG opened at $37.43 on Thursday. The company has a quick ratio of 1.12, a current ratio of 3.32 and a debt-to-equity ratio of 0.28. The company has a market cap of $2,268.75, a P/E ratio of 5.75, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. Signet Jewelers has a fifty-two week low of $33.11 and a fifty-two week high of $77.94.
Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Wednesday, March 14th. The company reported $4.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.26 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.24 billion. Signet Jewelers had a net margin of 8.30% and a return on equity of 20.34%. Signet Jewelers’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.03 earnings per share. equities research analysts anticipate that Signet Jewelers will post 3.96 earnings per share for the current fiscal year.
In related news, insider Oded Edelman acquired 90,398 shares of the stock in a transaction dated Friday, January 12th. The stock was bought at an average price of $55.31 per share, with a total value of $4,999,913.38. Following the completion of the transaction, the insider now directly owns 33,962 shares of the company’s stock, valued at $1,878,438.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of SIG. Discovery Capital Management LLC CT acquired a new position in Signet Jewelers during the fourth quarter worth $77,095,000. Alliancebernstein L.P. boosted its holdings in Signet Jewelers by 1,105.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,302,225 shares of the company’s stock worth $73,641,000 after purchasing an additional 1,194,187 shares during the last quarter. Schroder Investment Management Group acquired a new position in Signet Jewelers during the fourth quarter worth $47,013,000. Arrowstreet Capital Limited Partnership boosted its holdings in Signet Jewelers by 998.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 528,255 shares of the company’s stock worth $29,873,000 after purchasing an additional 480,155 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in Signet Jewelers by 86.4% during the fourth quarter. Guggenheim Capital LLC now owns 906,766 shares of the company’s stock worth $51,277,000 after purchasing an additional 420,413 shares during the last quarter.
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About Signet Jewelers
Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands.
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