Signet Jewelers (NYSE:SIG) Hits New 52-Week Low – Here’s Why

Signet Jewelers Limited (NYSE:SIG)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $46.51 and last traded at $46.93, with a volume of 38647 shares changing hands. The stock had previously closed at $48.17.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SIG. Bank of America reduced their target price on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Telsey Advisory Group lowered their price target on Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a report on Wednesday, January 15th. StockNews.com lowered Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company lowered their target price on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.20.

Signet Jewelers Price Performance

The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 5.57, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $57.97 and a two-hundred day moving average of $79.84.

Insiders Place Their Bets

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $54.13, for a total transaction of $180,415.29. Following the completion of the sale, the director now directly owns 22,752 shares in the company, valued at approximately $1,231,565.76. This trade represents a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

A number of institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its holdings in shares of Signet Jewelers by 3.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,517 shares of the company’s stock valued at $526,000 after buying an additional 205 shares during the last quarter. KBC Group NV lifted its holdings in shares of Signet Jewelers by 25.5% during the 3rd quarter. KBC Group NV now owns 1,293 shares of the company’s stock valued at $133,000 after buying an additional 263 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Signet Jewelers by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 34,122 shares of the company’s stock valued at $3,330,000 after buying an additional 288 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Signet Jewelers by 3.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,498 shares of the company’s stock valued at $1,083,000 after buying an additional 330 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in shares of Signet Jewelers by 12.2% during the 4th quarter. Xponance Inc. now owns 3,149 shares of the company’s stock valued at $254,000 after buying an additional 343 shares during 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.