Telsey Advisory Group Has Lowered Expectations for Signet Jewelers (NYSE:SIG) Stock Price

Signet Jewelers (NYSE:SIG) had its target price dropped by stock analysts at Telsey Advisory Group from $65.00 to $55.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 13.57% from the company’s current price.

Several other equities research analysts have also weighed in on SIG. StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company decreased their price objective on shares of Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Bank of America cut their target price on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research note 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 stock. According to MarketBeat, Signet Jewelers presently has an average rating of “Moderate Buy” and an average target price of $93.20.

Signet Jewelers Price Performance

Signet Jewelers stock opened at $48.43 on Thursday. The business has a 50 day simple moving average of $57.97 and a 200 day simple moving average of $79.84. Signet Jewelers has a one year low of $46.16 and a one year high of $112.06. The company has a market capitalization of $2.11 billion, a PE ratio of 5.57, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction on Friday, February 21st. The stock was 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 approximately $1,231,565.76. This trade represents a 12.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Signet Jewelers

Several large investors have recently made changes to their positions in SIG. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Signet Jewelers during the 4th quarter worth about $297,000. Mackenzie Financial Corp raised its stake in shares of Signet Jewelers by 4.9% during the fourth quarter. Mackenzie Financial Corp now owns 15,227 shares of the company’s stock worth $1,229,000 after buying an additional 706 shares during the last quarter. MidWestOne Financial Group Inc. lifted its holdings in Signet Jewelers by 22.3% in the fourth quarter. MidWestOne Financial Group Inc. now owns 24,372 shares of the company’s stock valued at $1,967,000 after buying an additional 4,436 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Signet Jewelers by 14.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 111,609 shares of the company’s stock valued at $9,008,000 after acquiring an additional 13,769 shares during the last quarter. Finally, Shay Capital LLC acquired a new stake in Signet Jewelers during the 4th quarter worth $484,000.

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.