Wells Fargo & Company Lowers Signet Jewelers (NYSE:SIG) Price Target to $80.00

Signet Jewelers (NYSE:SIG) had its target price cut by equities researchers at Wells Fargo & Company from $95.00 to $80.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 42.07% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Telsey Advisory Group restated a “market perform” rating and set a $55.00 price target on shares of Signet Jewelers in a research report on Wednesday. UBS Group upped their price target on shares of Signet Jewelers from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America reduced their price target on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Signet Jewelers presently has a consensus rating of “Moderate Buy” and an average target price of $81.60.

Signet Jewelers Price Performance

Shares of Signet Jewelers stock traded down $0.34 during trading hours on Thursday, reaching $56.31. The stock had a trading volume of 2,293,178 shares, compared to its average volume of 1,062,950. The stock’s 50 day moving average is $55.25 and its 200 day moving average is $78.66. The firm has a market capitalization of $2.45 billion, a PE ratio of 6.48, a PEG ratio of 3.43 and a beta of 2.20. Signet Jewelers has a twelve month low of $45.55 and a twelve month 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.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, topping analysts’ consensus estimates of $6.39 by $0.23. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate 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 was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.73 earnings per share. Equities analysts expect that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Insider Activity at Signet Jewelers

In related news, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were 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 owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. This represents a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.26% of the stock is owned by corporate insiders.

Institutional Trading of Signet Jewelers

Several large investors have recently bought and sold shares of SIG. Smartleaf Asset Management LLC grew its stake in shares of Signet Jewelers by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock valued at $57,000 after buying an additional 421 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Signet Jewelers in the 3rd quarter valued at approximately $77,000. Sterling Capital Management LLC grew its stake in shares of Signet Jewelers by 832.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock valued at $110,000 after buying an additional 1,216 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Signet Jewelers by 32.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock valued at $123,000 after buying an additional 410 shares during the period. Finally, KBC Group NV grew its stake in shares of Signet Jewelers by 25.5% in 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 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.