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

Signet Jewelers Limited (NYSE:SIG) hit 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 traded. The stock had previously closed at $48.17.

Analyst Ratings Changes

SIG has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Bank of America decreased their target price on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a research 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. Finally, Telsey Advisory Group decreased their target price on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Signet Jewelers currently has an average rating of “Moderate Buy” and a consensus price target of $95.20.

Signet Jewelers Stock Performance

The stock has a market capitalization 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 quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $57.97 and its 200 day simple moving average is $79.84.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $54.13, for a total value of $180,415.29. Following the transaction, the director now directly owns 22,752 shares in the company, valued at $1,231,565.76. The trade was a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

A number of institutional investors have recently modified their holdings of SIG. Smartleaf Asset Management LLC raised its stake in shares of Signet Jewelers by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock worth $57,000 after acquiring an additional 421 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Signet Jewelers in the third quarter worth about $77,000. Sterling Capital Management LLC raised its stake in shares of Signet Jewelers by 832.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock worth $110,000 after acquiring an additional 1,216 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Signet Jewelers by 32.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock worth $123,000 after acquiring an additional 410 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Signet Jewelers by 25.5% in the third quarter. KBC Group NV now owns 1,293 shares of the company’s stock worth $133,000 after acquiring an additional 263 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.