Signet Jewelers (NYSE:SIG) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Signet Jewelers (NYSE:SIG) from a hold rating to a buy rating in a research note published on Tuesday.

A number of other analysts have also weighed in on SIG. Telsey Advisory Group reissued a market perform rating and set a $105.00 price objective on shares of Signet Jewelers in a research note on Wednesday, July 24th. Citigroup reissued a buy rating and set a $119.00 price target on shares of Signet Jewelers in a research report on Friday, June 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Signet Jewelers from $125.00 to $105.00 and set an overweight rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $116.20.

Signet Jewelers Stock Up 2.1 %

Shares of NYSE:SIG opened at $84.40 on Tuesday. The stock has a market cap of $3.76 billion, a PE ratio of 6.86, a PEG ratio of 0.83 and a beta of 2.16. The company’s fifty day moving average is $83.00 and its 200 day moving average is $94.12. Signet Jewelers has a 52 week low of $65.12 and a 52 week high of $112.06.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Thursday, June 13th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.82 by $0.29. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. Signet Jewelers had a return on equity of 32.51% and a net margin of 10.91%. The company’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share. Sell-side analysts anticipate that Signet Jewelers will post 10.6 EPS for the current year.

Signet Jewelers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, July 26th. Signet Jewelers’s payout ratio is currently 9.43%.

Insiders Place Their Bets

In other news, Director Eugenia Ulasewicz sold 3,334 shares of Signet Jewelers stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $87.94, for a total transaction of $293,191.96. Following the sale, the director now owns 29,418 shares of the company’s stock, valued at approximately $2,587,018.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Eugenia Ulasewicz sold 3,334 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $87.94, for a total value of $293,191.96. Following the completion of the transaction, the director now owns 29,418 shares in the company, valued at approximately $2,587,018.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Oded Edelman sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $74.55, for a total value of $670,950.00. Following the completion of the sale, the insider now directly owns 28,398 shares in the company, valued at $2,117,070.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,439 shares of company stock worth $4,809,869. 3.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Hexagon Capital Partners LLC grew its holdings in Signet Jewelers by 37.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock worth $50,000 after purchasing an additional 127 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Signet Jewelers in the 2nd quarter worth approximately $51,000. Blue Trust Inc. grew its stake in shares of Signet Jewelers by 15.3% in the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after buying an additional 122 shares during the last quarter. Quadrant Capital Group LLC increased its position in Signet Jewelers by 55.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock valued at $164,000 after buying an additional 544 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Signet Jewelers by 6.8% during the first quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after buying an additional 116 shares during 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.