Signet Jewelers (NYSE:SIG) Rating Lowered to Hold at Zacks Research

Signet Jewelers (NYSE:SIG) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other equities research analysts have also issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Signet Jewelers from $96.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, September 10th. Jefferies Financial Group upped their price objective on Signet Jewelers from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Raymond James Financial increased their price objective on Signet Jewelers from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, September 10th. Bank of America increased their price objective on Signet Jewelers from $102.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, September 10th. Finally, Wells Fargo & Company raised their target price on Signet Jewelers from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 9th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.56.

Signet Jewelers Stock Performance

NYSE SIG opened at $120.36 on Monday. Signet Jewelers has a 52-week low of $71.61 and a 52-week high of $129.26. The company has a 50-day simple moving average of $106.45 and a 200 day simple moving average of $93.10. The company has a market capitalization of $4.61 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.65 and a beta of 1.05.

Signet Jewelers (NYSE:SIG) last released its earnings results on Wednesday, September 9th. The company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.50. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Signet Jewelers had a net margin of 5.19% and a return on equity of 23.28%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 earnings per share. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. As a group, analysts forecast that Signet Jewelers will post 11.70 EPS for the current fiscal year.

Insider Buying and Selling

In other Signet Jewelers news, insider Stash Ptak sold 405 shares of the stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $48,600.00. Following the completion of the transaction, the insider owned 20,428 shares in the company, valued at $2,451,360. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of Signet Jewelers

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Advisory Services LLC purchased a new stake in shares of Signet Jewelers during the 2nd quarter valued at approximately $32,000. Parallel Advisors LLC boosted its holdings in Signet Jewelers by 101.0% in the 1st quarter. Parallel Advisors LLC now owns 394 shares of the company’s stock worth $33,000 after buying an additional 198 shares during the period. Global Retirement Partners LLC boosted its holdings in Signet Jewelers by 720.5% in the 3rd quarter. Global Retirement Partners LLC now owns 320 shares of the company’s stock worth $33,000 after buying an additional 281 shares during the period. Salomon & Ludwin LLC boosted its holdings in Signet Jewelers by 100.9% in the 3rd quarter. Salomon & Ludwin LLC now owns 450 shares of the company’s stock worth $46,000 after buying an additional 226 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Signet Jewelers by 46.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock valued at $86,000 after buying an additional 266 shares in the last quarter.

About Signet Jewelers

Signet Jewelers is a specialty jewelry retailer that sells diamond, bridal and fashion jewelry, watches, and related services through a portfolio of retail brands. Its brands include Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, James Allen, Blue Nile, H.Samuel, Ernest Jones, and Peoples Jewellers. The company serves customers through stores and online channels in the United States, Canada, and the United Kingdom. Its offerings include engagement and wedding jewelry, jewelry repair, customization, and piercing services.