Signet Jewelers’ (SIG) “Overweight” Rating Reaffirmed at Stephens

Signet Jewelers (NYSE:SIG)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a report released on Friday,Benzinga reports. They currently have a $130.00 price objective on the stock. Stephens’ price target suggests a potential upside of 49.04% from the company’s current price.

Several other equities research analysts have also recently commented on SIG. Jefferies Financial Group reissued a “buy” rating on shares of Signet Jewelers in a report on Monday, March 9th. Telsey Advisory Group reissued a “market perform” rating and set a $96.00 target price on shares of Signet Jewelers in a research note on Thursday, March 19th. Wells Fargo & Company upped their price target on Signet Jewelers from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, March 20th. Royal Bank Of Canada raised Signet Jewelers to a “hold” rating in a report on Monday, March 30th. Finally, Wall Street Zen cut Signet Jewelers from a “strong-buy” rating to a “hold” rating in a report on Sunday, March 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.88.

Signet Jewelers Stock Performance

Shares of SIG traded up $0.24 during mid-day trading on Friday, reaching $87.23. 94,762 shares of the company’s stock traded hands, compared to its average volume of 880,042. The business’s 50-day moving average price is $86.34 and its 200-day moving average price is $89.78. The stock has a market capitalization of $3.50 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. Signet Jewelers has a 12 month low of $65.20 and a 12 month high of $110.20.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Thursday, March 19th. The company reported $6.25 earnings per share for the quarter, beating analysts’ consensus estimates of $6.11 by $0.14. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Signet Jewelers had a return on equity of 22.22% and a net margin of 4.32%.The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.62 earnings per share. Equities research analysts anticipate that Signet Jewelers will post 10.3 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SIG. American Century Companies Inc. increased its position in Signet Jewelers by 12.3% in the 3rd quarter. American Century Companies Inc. now owns 1,592,735 shares of the company’s stock valued at $152,775,000 after acquiring an additional 174,873 shares in the last quarter. JPMorgan Chase & Co. raised its position in Signet Jewelers by 212.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 500,589 shares of the company’s stock worth $48,016,000 after purchasing an additional 340,228 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Signet Jewelers by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,346,165 shares of the company’s stock worth $225,046,000 after purchasing an additional 43,925 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in Signet Jewelers by 163.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 34,919 shares of the company’s stock worth $3,349,000 after purchasing an additional 21,660 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. bought a new position in Signet Jewelers in the 3rd quarter worth approximately $47,837,000.

Signet Jewelers Company Profile

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.