Signet Jewelers Limited (NYSE:SIG) had its price objective cut by research analysts at Needham & Company LLC to $60.00 in a report released on Wednesday. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 13.66% from the company’s previous close. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada set a $66.00 price target on shares of Signet Jewelers Limited and gave the company a “buy” rating in a report on Friday, August 25th. Wells Fargo & Company set a $97.00 price target on shares of Signet Jewelers Limited and gave the company a “buy” rating in a report on Wednesday, August 23rd. Instinet restated a “buy” rating and set a $73.00 target price (up previously from $70.00) on shares of Signet Jewelers Limited in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of Signet Jewelers Limited from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Monday, September 4th. Finally, ValuEngine upgraded shares of Signet Jewelers Limited from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $67.87.

Signet Jewelers Limited (SIG) traded down $23.05 during trading on Wednesday, reaching $52.79. 18,603,400 shares of the company’s stock traded hands, compared to its average volume of 1,830,010. The company has a market cap of $4,585.29, a PE ratio of 11.34, a P/E/G ratio of 1.41 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.40. Signet Jewelers Limited has a 52-week low of $46.09 and a 52-week high of $101.46.

Signet Jewelers Limited (NYSE:SIG) last released its quarterly earnings results on Thursday, August 24th. The company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.23. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Signet Jewelers Limited had a net margin of 7.62% and a return on equity of 20.86%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. equities analysts forecast that Signet Jewelers Limited will post 7.16 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of SIG. Morgan Stanley boosted its position in shares of Signet Jewelers Limited by 34.5% during the 1st quarter. Morgan Stanley now owns 148,486 shares of the company’s stock worth $10,286,000 after acquiring an additional 38,074 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Signet Jewelers Limited by 29.5% during the 2nd quarter. Bank of Montreal Can now owns 20,407 shares of the company’s stock worth $1,292,000 after acquiring an additional 4,647 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in shares of Signet Jewelers Limited by 1.8% during the 2nd quarter. Gateway Investment Advisers LLC now owns 5,201 shares of the company’s stock worth $329,000 after acquiring an additional 91 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Signet Jewelers Limited by 558.5% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 10,167 shares of the company’s stock worth $643,000 after acquiring an additional 8,623 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of Signet Jewelers Limited by 29.5% during the 2nd quarter. LS Investment Advisors LLC now owns 5,301 shares of the company’s stock worth $335,000 after acquiring an additional 1,206 shares in the last quarter.

Signet Jewelers Limited Company Profile

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.

Analyst Recommendations for Signet Jewelers Limited (NYSE:SIG)

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