Signet Jewelers (NYSE:SIG) Given New $89.00 Price Target at UBS Group

Signet Jewelers (NYSE:SIG) had its price target increased by equities researchers at UBS Group from $85.00 to $89.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 51.80% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Bank of America cut their price objective on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Telsey Advisory Group restated a “market perform” rating and set a $55.00 target price on shares of Signet Jewelers in a research report on Wednesday. Finally, Wells Fargo & Company reduced their price target on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.60.

Signet Jewelers Stock Up 3.5 %

Shares of SIG traded up $1.98 during mid-day trading on Thursday, reaching $58.63. The company had a trading volume of 272,588 shares, compared to its average volume of 1,055,241. Signet Jewelers has a 52 week low of $45.55 and a 52 week high of $112.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. The firm has a 50-day moving average price of $55.25 and a 200 day moving average price of $78.66. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 6.75, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.39 by $0.23. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted $6.73 earnings per share. On average, sell-side analysts forecast that Signet Jewelers will post 8.73 EPS for the current year.

Insider Activity at Signet Jewelers

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $54.13, for a total transaction of $180,415.29. Following the completion of the sale, the director now owns 22,752 shares in the company, valued at $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 available at this hyperlink. Insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its stake in Signet Jewelers by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock worth $57,000 after purchasing an additional 421 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Signet Jewelers during the 3rd quarter worth about $77,000. KBC Group NV lifted its stake in Signet Jewelers by 25.5% during the 3rd quarter. KBC Group NV now owns 1,293 shares of the company’s stock worth $133,000 after acquiring an additional 263 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Signet Jewelers by 832.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock valued at $110,000 after acquiring an additional 1,216 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in Signet Jewelers by 32.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock valued at $123,000 after acquiring an additional 410 shares in 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.