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

Signet Jewelers (NYSE:SIG) had its price target cut by investment analysts at Wells Fargo & Company from $95.00 to $80.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 42.07% from the company’s previous close.

A number of other equities research analysts have also issued reports on SIG. StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. UBS Group increased their target price on shares of Signet Jewelers from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday. Telsey Advisory Group reiterated a “market perform” rating and set a $55.00 target price on shares of Signet Jewelers in a report on Wednesday. Finally, Bank of America reduced their target price on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” 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 company’s stock. According to data from MarketBeat, Signet Jewelers has an average rating of “Moderate Buy” and a consensus price target of $81.60.

Signet Jewelers Trading Down 0.6 %

Shares of NYSE:SIG traded down $0.34 during mid-day trading on Thursday, reaching $56.31. 2,293,178 shares of the company were exchanged, compared to its average volume of 1,062,950. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 6.48, a P/E/G ratio of 3.43 and a beta of 2.20. The firm’s 50-day simple moving average is $55.25 and its 200 day simple moving average is $78.66. Signet Jewelers has a 1 year low of $45.55 and a 1 year high of $112.06.

Signet Jewelers (NYSE:SIG) last posted 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 firm 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 firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the company posted $6.73 EPS. Equities research analysts forecast that Signet Jewelers will post 8.73 EPS for the current year.

Insider Activity

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $54.13, for a total value of $180,415.29. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SIG. Atria Investments Inc purchased a new position in shares of Signet Jewelers in the 3rd quarter valued at $254,000. KBC Group NV grew its position 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 last quarter. Segall Bryant & Hamill LLC grew its position in shares of Signet Jewelers by 29.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 15,238 shares of the company’s stock valued at $1,572,000 after buying an additional 3,461 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Signet Jewelers by 40.2% in the 3rd quarter. Intech Investment Management LLC now owns 19,830 shares of the company’s stock valued at $2,045,000 after buying an additional 5,690 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Signet Jewelers by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 669,896 shares of the company’s stock valued at $69,093,000 after buying an additional 30,820 shares during the last quarter.

About Signet Jewelers

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.