Signet Jewelers (NYSE:SIG) had its price target boosted by analysts at Telsey Advisory Group from $85.00 to $94.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 10.25% from the company’s previous close.
SIG has been the subject of a number of other research reports. Zacks Investment Research upgraded Signet Jewelers from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Monday. Wells Fargo & Company boosted their price target on Signet Jewelers from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday. lifted their price objective on Signet Jewelers from $68.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday, June 11th. Finally, Citigroup upped their price objective on Signet Jewelers from $68.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, June 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $83.40.
NYSE:SIG opened at $85.26 on Friday. The business’s 50-day moving average price is $71.72 and its two-hundred day moving average price is $63.88. Signet Jewelers has a twelve month low of $16.56 and a twelve month high of $88.50. The stock has a market cap of $4.49 billion, a P/E ratio of 18.38, a PEG ratio of 1.46 and a beta of 2.60. The company has a quick ratio of 0.86, a current ratio of 1.92 and a debt-to-equity ratio of 0.11.
Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Wednesday, September 1st. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $1.08. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.65 billion. Signet Jewelers had a return on equity of 32.21% and a net margin of 5.14%. Signet Jewelers’s revenue for the quarter was up 101.4% compared to the same quarter last year. During the same period last year, the company earned ($1.13) EPS. On average, equities research analysts expect that Signet Jewelers will post 7.02 EPS for the current fiscal year.
In other news, Director Andre Branch acquired 2,700 shares of the stock in a transaction that occurred on Tuesday, June 15th. The shares were bought at an average cost of $73.58 per share, for a total transaction of $198,666.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mary Elizabeth Finn sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $75.56, for a total value of $241,792.00. Following the transaction, the insider now owns 46,852 shares in the company, valued at $3,540,137.12. The disclosure for this sale can be found here. 1.76% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its position in shares of Signet Jewelers by 56.0% during the second quarter. Morgan Stanley now owns 307,577 shares of the company’s stock worth $24,850,000 after acquiring an additional 110,426 shares during the period. Walleye Capital LLC boosted its stake in Signet Jewelers by 104.5% in the second quarter. Walleye Capital LLC now owns 7,269 shares of the company’s stock valued at $587,000 after acquiring an additional 3,714 shares in the last quarter. Invesco Ltd. boosted its stake in Signet Jewelers by 14.2% in the second quarter. Invesco Ltd. now owns 424,013 shares of the company’s stock valued at $34,256,000 after acquiring an additional 52,662 shares in the last quarter. Millennium Management LLC boosted its stake in Signet Jewelers by 49.2% in the second quarter. Millennium Management LLC now owns 126,201 shares of the company’s stock valued at $10,196,000 after acquiring an additional 41,615 shares in the last quarter. Finally, Man Group plc boosted its stake in Signet Jewelers by 58.8% in the second quarter. Man Group plc now owns 69,895 shares of the company’s stock valued at $5,647,000 after acquiring an additional 25,875 shares in the last quarter. 91.27% of the stock is currently owned by hedge funds and other institutional investors.
About Signet Jewelers
Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segments: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H.
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