Signet Jewelers (NYSE:SIG) Given New $79.00 Price Target at Citigroup

Signet Jewelers (NYSE:SIG) had its target price increased by equities researchers at Citigroup from $68.00 to $79.00 in a report issued on Friday, The Fly reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 13.54% from the stock’s current price.

Several other equities research analysts have also commented on SIG. Zacks Investment Research raised shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a report on Wednesday, April 21st. Wells Fargo & Company raised shares of Signet Jewelers from an “underweight” rating to an “equal weight” rating in a report on Thursday. Finally, Telsey Advisory Group upped their price target on shares of Signet Jewelers from $60.00 to $70.00 and gave the company a “market perform” rating in a report on Tuesday, April 13th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Signet Jewelers has a consensus rating of “Hold” and a consensus target price of $62.40.

Shares of SIG opened at $69.58 on Friday. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of -49.00 and a beta of 2.61. The company has a quick ratio of 0.78, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. Signet Jewelers has a 1-year low of $9.70 and a 1-year high of $74.80. The firm’s fifty day moving average is $61.29.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Wednesday, June 9th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.27 by $0.96. Signet Jewelers had a negative net margin of 0.32% and a positive return on equity of 13.68%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the company earned ($1.59) earnings per share. The firm’s revenue was up 98.2% on a year-over-year basis. On average, equities research analysts forecast that Signet Jewelers will post 4.71 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Sei Investments Co. boosted its stake in shares of Signet Jewelers by 21.3% during the 4th quarter. Sei Investments Co. now owns 74,165 shares of the company’s stock worth $2,022,000 after acquiring an additional 12,998 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Signet Jewelers during the 4th quarter worth about $1,522,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Signet Jewelers during the 1st quarter worth about $1,670,000. World Asset Management Inc acquired a new position in shares of Signet Jewelers during the 1st quarter worth about $347,000. Finally, First Midwest Bank Trust Division acquired a new position in shares of Signet Jewelers during the 1st quarter worth about $1,692,000. 94.13% of the stock is currently owned by institutional investors and hedge funds.

About Signet Jewelers

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, and Peoples Jewellers, as well as operates online through JamesAllen.com.

Featured Story: Trading Ex-Dividend

The Fly logo

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

Receive News & Ratings for Signet Jewelers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signet Jewelers and related companies with MarketBeat.com's FREE daily email newsletter.