Signet Jewelers (NYSE:SIG) Stock Price Expected to Rise, UBS Group Analyst Says

Signet Jewelers (NYSE:SIG) had its price target hoisted by UBS Group from $85.00 to $89.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 51.80% from the stock’s current price.

Several other analysts have also recently commented on the company. Wells Fargo & Company reduced their price target on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Bank of America cut their price target on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $55.00 target price on shares of Signet Jewelers in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Signet Jewelers presently has an average rating of “Moderate Buy” and an average target price of $84.60.

Signet Jewelers Stock Up 3.5 %

NYSE:SIG traded up $1.98 during trading hours on Thursday, hitting $58.63. The company’s stock had a trading volume of 272,588 shares, compared to its average volume of 1,055,241. Signet Jewelers has a 52-week low of $45.55 and a 52-week high of $112.06. 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 market capitalization of $2.55 billion, a P/E ratio of 6.75, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20. The stock has a fifty day moving average of $55.25 and a 200-day moving average of $78.66.

Signet Jewelers (NYSE:SIG) last issued its earnings results on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.39 by $0.23. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.73 EPS. On average, equities analysts forecast that Signet Jewelers will post 8.73 earnings per share for the current year.

Insider Activity

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction on 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 transaction, the director now directly owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. This trade represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SIG. Grace & White Inc. NY grew its stake in shares of Signet Jewelers by 6.1% during the 4th quarter. Grace & White Inc. NY now owns 207,262 shares of the company’s stock worth $16,728,000 after acquiring an additional 11,900 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Signet Jewelers by 22.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 61,568 shares of the company’s stock valued at $4,969,000 after purchasing an additional 11,218 shares during the last quarter. Van ECK Associates Corp raised its holdings in Signet Jewelers by 30.5% in the 4th quarter. Van ECK Associates Corp now owns 36,655 shares of the company’s stock valued at $2,958,000 after buying an additional 8,574 shares during the last quarter. US Bancorp DE grew its stake in shares of Signet Jewelers by 99.6% in the fourth quarter. US Bancorp DE now owns 19,598 shares of the company’s stock worth $1,582,000 after purchasing an additional 9,778 shares during the last quarter. Finally, Royce & Associates LP lifted its position in shares of Signet Jewelers by 5.0% in the 4th quarter. Royce & Associates LP now owns 202,280 shares of the company’s stock worth $16,326,000 after purchasing an additional 9,559 shares during the period.

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.