Signet Jewelers (NYSE:SIG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Signet Jewelers (NYSE:SIG) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $60.00 to $70.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 5.18% from the stock’s current price.

A number of other brokerages have also issued reports on SIG. CL King began coverage on Signet Jewelers in a research report on Monday, May 5th. They set a “buy” rating and a $80.00 target price on the stock. Bank of America decreased their target price on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Telsey Advisory Group reiterated a “market perform” rating and set a $55.00 target price on shares of Signet Jewelers in a research report on Wednesday, March 19th. Cfra Research upgraded Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. Finally, UBS Group increased their target price on Signet Jewelers from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $79.67.

Signet Jewelers Trading Down 0.2%

Signet Jewelers stock opened at $66.55 on Wednesday. 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 has a 12 month low of $45.55 and a 12 month high of $112.06. The stock’s 50 day simple moving average is $57.68 and its two-hundred day simple moving average is $68.78. The firm has a market cap of $2.85 billion, a PE ratio of 7.66, a P/E/G ratio of 3.43 and a beta of 1.34.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 EPS for the quarter, topping the consensus estimate of $6.39 by $0.23. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the firm posted $6.73 EPS. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. Analysts anticipate that Signet Jewelers will post 8.73 earnings per share for the current year.

Insider Buying and Selling at Signet Jewelers

In related news, CEO James Kevin Symancyk bought 15,000 shares of the business’s stock in a transaction on Monday, March 31st. The stock was acquired at an average cost of $57.45 per share, with a total value of $861,750.00. Following the purchase, the chief executive officer now directly owns 50,710 shares of the company’s stock, valued at $2,913,289.50. The trade was a 42.01% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Helen Mccluskey bought 1,700 shares of the business’s stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $58.86 per share, with a total value of $100,062.00. Following the completion of the purchase, the director now directly owns 31,916 shares in the company, valued at approximately $1,878,575.76. The trade was a 5.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.26% of the stock is currently owned by insiders.

Institutional Trading of Signet Jewelers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Maverick Capital Ltd. acquired a new stake in shares of Signet Jewelers in the 1st quarter worth $1,915,000. Royal Bank of Canada increased its stake in shares of Signet Jewelers by 87.2% in the 1st quarter. Royal Bank of Canada now owns 17,564 shares of the company’s stock worth $1,020,000 after acquiring an additional 8,183 shares during the last quarter. Quarry LP acquired a new stake in shares of Signet Jewelers in the 1st quarter worth $54,000. GMT Capital Corp increased its position in shares of Signet Jewelers by 3.9% during the 1st quarter. GMT Capital Corp now owns 130,200 shares of the company’s stock worth $7,559,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Vident Advisory LLC increased its position in shares of Signet Jewelers by 24.4% during the 1st quarter. Vident Advisory LLC now owns 12,267 shares of the company’s stock worth $712,000 after purchasing an additional 2,410 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.