Signet Jewelers (SIG) Downgraded to “Hold” at ValuEngine
ValuEngine lowered shares of Signet Jewelers (NYSE:SIG) from a buy rating to a hold rating in a research note published on Thursday.
Several other research firms also recently issued reports on SIG. Wells Fargo & Co downgraded Signet Jewelers from an outperform rating to a market perform rating and dropped their price objective for the stock from $75.00 to $60.00 in a report on Tuesday, November 21st. Zacks Investment Research downgraded Signet Jewelers from a buy rating to a hold rating in a report on Wednesday, November 15th. Buckingham Research lifted their price objective on Signet Jewelers from $55.00 to $72.00 and gave the stock a neutral rating in a report on Tuesday, November 14th. Susquehanna Bancshares began coverage on Signet Jewelers in a report on Thursday, November 2nd. They set a neutral rating and a $60.00 price objective on the stock. Finally, Royal Bank of Canada downgraded Signet Jewelers from an outperform rating to a sector perform rating and dropped their price objective for the stock from $60.00 to $55.00 in a report on Friday, January 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $64.67.
Shares of Signet Jewelers (NYSE SIG) opened at $51.07 on Thursday. The company has a current ratio of 2.63, a quick ratio of 0.76 and a debt-to-equity ratio of 0.33. Signet Jewelers has a twelve month low of $46.09 and a twelve month high of $77.94. The stock has a market capitalization of $3,090.55, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73.
In other news, insider Oded Edelman purchased 90,398 shares of the stock in a transaction dated Friday, January 12th. The stock was acquired at an average cost of $55.31 per share, for a total transaction of $4,999,913.38. Following the acquisition, the insider now owns 33,962 shares of the company’s stock, valued at $1,878,438.22. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.52% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Discovery Capital Management LLC CT acquired a new position in Signet Jewelers during the 4th quarter valued at approximately $77,095,000. Alliancebernstein L.P. boosted its position in Signet Jewelers by 1,105.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,302,225 shares of the company’s stock valued at $73,641,000 after purchasing an additional 1,194,187 shares during the period. Schroder Investment Management Group acquired a new position in Signet Jewelers during the 4th quarter valued at approximately $47,013,000. Arrowstreet Capital Limited Partnership boosted its position in Signet Jewelers by 998.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 528,255 shares of the company’s stock valued at $29,873,000 after purchasing an additional 480,155 shares during the period. Finally, Guggenheim Capital LLC boosted its position in Signet Jewelers by 86.4% during the 4th quarter. Guggenheim Capital LLC now owns 906,766 shares of the company’s stock valued at $51,277,000 after purchasing an additional 420,413 shares during the period.
About Signet Jewelers
Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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