Signet Jewelers (NYSE:SIG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Signet Jewelers (NYSE:SIG) from a hold rating to a buy rating in a report released on Monday.

A number of other brokerages also recently weighed in on SIG. Wells Fargo & Company decreased their price target on Signet Jewelers from $125.00 to $105.00 and set an overweight rating for the company in a report on Tuesday, August 27th. Bank of America decreased their price target on Signet Jewelers from $108.00 to $100.00 and set a neutral rating for the company in a report on Friday, September 13th. UBS Group decreased their price target on Signet Jewelers from $145.00 to $132.00 and set a buy rating for the company in a report on Wednesday, September 11th. Telsey Advisory Group decreased their price target on Signet Jewelers from $105.00 to $87.00 and set a market perform rating for the company in a report on Monday, September 9th. Finally, Citigroup reiterated a buy rating and set a $119.00 price target on shares of Signet Jewelers in a report on Friday, June 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Signet Jewelers currently has an average rating of Moderate Buy and an average target price of $108.60.

Signet Jewelers Stock Up 4.3 %

NYSE SIG opened at $97.16 on Monday. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 0.95 and a beta of 2.10. Signet Jewelers has a twelve month low of $65.12 and a twelve month high of $112.06. The stock has a fifty day simple moving average of $81.79 and a 200 day simple moving average of $91.96.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. Signet Jewelers’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. Research analysts expect that Signet Jewelers will post 10.47 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a $0.29 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. Signet Jewelers’s dividend payout ratio is presently 9.43%.

Insider Activity

In related news, insider Rebecca Wooters sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $90.34, for a total value of $271,020.00. Following the transaction, the insider now owns 90,494 shares of the company’s stock, valued at approximately $8,175,227.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Eugenia Ulasewicz sold 3,334 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $87.94, for a total value of $293,191.96. Following the transaction, the director now owns 29,418 shares of the company’s stock, valued at approximately $2,587,018.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rebecca Wooters sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $90.34, for a total transaction of $271,020.00. Following the completion of the transaction, the insider now directly owns 90,494 shares in the company, valued at approximately $8,175,227.96. The disclosure for this sale can be found here. Insiders sold a total of 53,202 shares of company stock worth $4,422,789 in the last three months. Company insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

Several hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in shares of Signet Jewelers during the 2nd quarter worth approximately $2,772,000. Coronation Fund Managers Ltd. lifted its position in shares of Signet Jewelers by 35.9% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 44,405 shares of the company’s stock worth $3,978,000 after buying an additional 11,723 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Signet Jewelers by 2.2% during the 2nd quarter. Cetera Investment Advisers now owns 11,793 shares of the company’s stock worth $1,056,000 after buying an additional 257 shares in the last quarter. Truist Financial Corp lifted its position in shares of Signet Jewelers by 204.3% during the 2nd quarter. Truist Financial Corp now owns 10,062 shares of the company’s stock worth $901,000 after buying an additional 6,755 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Signet Jewelers by 46.2% during the 2nd quarter. Creative Planning now owns 7,798 shares of the company’s stock worth $699,000 after buying an additional 2,464 shares in 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.