Analysts Set Signet Jewelers Limited (NYSE:SIG) Target Price at $109.60

Signet Jewelers Limited (NYSE:SIG) has received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $109.60.

Several analysts have issued reports on SIG shares. Wells Fargo & Company upped their price target on shares of Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America reduced their price target on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. UBS Group dropped their price objective on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $87.00 price target on shares of Signet Jewelers in a report on Thursday, December 5th.

Insiders Place Their Bets

In other Signet Jewelers news, insider Oded Edelman sold 1,398 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $94.53, for a total transaction of $132,152.94. Following the transaction, the insider now owns 32,666 shares in the company, valued at approximately $3,087,916.98. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Virginia Drosos sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $101.25, for a total value of $60,750.00. Following the completion of the transaction, the chief executive officer now owns 728,220 shares of the company’s stock, valued at approximately $73,732,275. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,568 shares of company stock worth $1,705,653. 3.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Signet Jewelers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Signet Jewelers by 15.3% during the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after buying an additional 122 shares in the last quarter. Raymond James & Associates increased its stake in shares of Signet Jewelers by 46.1% in the 2nd quarter. Raymond James & Associates now owns 53,947 shares of the company’s stock worth $4,833,000 after acquiring an additional 17,030 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Signet Jewelers by 2.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock valued at $2,016,000 after acquiring an additional 600 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Signet Jewelers by 17.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,159 shares of the company’s stock worth $283,000 after acquiring an additional 479 shares in the last quarter. Finally, GAM Holding AG purchased a new stake in Signet Jewelers in the second quarter worth about $3,995,000.

Signet Jewelers Trading Up 1.5 %

NYSE SIG opened at $82.46 on Friday. The stock’s 50-day simple moving average is $92.53 and its two-hundred day simple moving average is $89.41. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 1.04 and a beta of 2.10. Signet Jewelers has a twelve month low of $72.26 and a twelve month high of $112.06. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business posted $0.24 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. Research analysts forecast that Signet Jewelers will post 9.88 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, January 24th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, January 24th. Signet Jewelers’s dividend payout ratio (DPR) is currently 13.35%.

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.