Signet Jewelers’ (SIG) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Signet Jewelers (NYSE:SIGGet Free Report)‘s stock had its “market perform” rating reaffirmed by equities researchers at Telsey Advisory Group in a report released on Thursday,Benzinga reports. They currently have a $96.00 price objective on the stock. Telsey Advisory Group’s target price indicates a potential upside of 6.31% from the stock’s previous close.

Several other brokerages have also recently issued reports on SIG. UBS Group raised their target price on shares of Signet Jewelers from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Wall Street Zen upgraded shares of Signet Jewelers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. The Goldman Sachs Group raised Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Signet Jewelers in a report on Monday, March 9th. Finally, Zacks Research cut Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Signet Jewelers presently has an average rating of “Moderate Buy” and an average price target of $110.00.

Read Our Latest Analysis on Signet Jewelers

Signet Jewelers Trading Up 14.6%

NYSE:SIG traded up $11.53 during mid-day trading on Thursday, reaching $90.30. The company’s stock had a trading volume of 1,919,101 shares, compared to its average volume of 897,497. The stock has a market cap of $3.67 billion, a P/E ratio of 26.84, a PEG ratio of 0.92 and a beta of 1.25. The firm’s fifty day moving average price is $91.88 and its two-hundred day moving average price is $93.43. Signet Jewelers has a 12-month low of $49.99 and a 12-month high of $110.20.

Signet Jewelers (NYSE:SIGGet Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported $6.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.87 by $0.38. Signet Jewelers had a net margin of 2.13% and a return on equity of 24.44%. During the same quarter in the prior year, the firm posted $6.62 EPS. The business’s revenue was down .3% on a year-over-year basis. Analysts predict that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Hood River Capital Management LLC purchased a new stake in shares of Signet Jewelers in the 2nd quarter worth $56,537,000. Arrowstreet Capital Limited Partnership lifted its position in Signet Jewelers by 321.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 861,769 shares of the company’s stock valued at $68,554,000 after purchasing an additional 657,444 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in Signet Jewelers during the second quarter valued at about $50,342,000. LSV Asset Management grew its holdings in Signet Jewelers by 90.0% during the fourth quarter. LSV Asset Management now owns 1,077,851 shares of the company’s stock valued at $89,332,000 after purchasing an additional 510,551 shares during the period. Finally, Bowen Hanes & Co. Inc. purchased a new stake in Signet Jewelers in the third quarter worth about $47,837,000.

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About Signet Jewelers

(Get Free Report)

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.

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Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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