UBS Group Forecasts Strong Price Appreciation for Signet Jewelers (NYSE:SIG) Stock

Signet Jewelers (NYSE:SIG) had its target price boosted by research analysts at UBS Group from $77.00 to $84.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 26.67% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Cfra Research raised shares of Signet Jewelers to a “moderate buy” rating in a research note on Thursday, March 20th. CL King began coverage on shares of Signet Jewelers in a research note on Monday, May 5th. They issued a “buy” rating and a $80.00 target price for the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $55.00 price target on shares of Signet Jewelers in a report on Wednesday, March 19th. Finally, Wells Fargo & Company raised their price objective on Signet Jewelers from $60.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $78.83.

Signet Jewelers Price Performance

Shares of Signet Jewelers stock traded up $3.24 on Tuesday, hitting $66.31. The company’s stock had a trading volume of 444,844 shares, compared to its average volume of 1,179,556. The company has a market capitalization of $2.84 billion, a P/E ratio of 7.63, a price-to-earnings-growth ratio of 3.43 and a beta of 1.34. Signet Jewelers has a 52-week low of $45.55 and a 52-week high of $112.06. The firm has a fifty day moving average price of $59.74 and a 200-day moving average price of $66.95. 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 issued its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.39 by $0.23. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.73 EPS. On average, equities research analysts expect that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Insider Transactions at Signet Jewelers

In other news, Director Helen Mccluskey bought 1,700 shares of Signet Jewelers stock in a transaction on Friday, April 25th. The shares were bought at an average price of $58.86 per share, with a total value of $100,062.00. Following the acquisition, the director now directly owns 31,916 shares in the company, valued at approximately $1,878,575.76. This represents a 5.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Kevin Symancyk purchased 15,000 shares of the stock in a transaction dated Monday, March 31st. The stock was purchased at an average price of $57.45 per share, with a total value of $861,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 50,710 shares in the company, valued at approximately $2,913,289.50. The trade was a 42.01% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

Institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn Investment Group lifted its holdings in shares of Signet Jewelers by 42,700.0% in the 1st quarter. Brooklyn Investment Group now owns 428 shares of the company’s stock worth $25,000 after purchasing an additional 427 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Signet Jewelers by 946.8% during the first quarter. Allworth Financial LP now owns 492 shares of the company’s stock valued at $29,000 after acquiring an additional 445 shares during the period. Headlands Technologies LLC bought a new position in shares of Signet Jewelers during the first quarter worth about $36,000. Versant Capital Management Inc increased its holdings in shares of Signet Jewelers by 40.5% in the 1st quarter. Versant Capital Management Inc now owns 773 shares of the company’s stock worth $45,000 after acquiring an additional 223 shares during the period. Finally, Byrne Asset Management LLC bought a new stake in Signet Jewelers in the 1st quarter valued at about $45,000.

Signet Jewelers Company Profile

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.