Signet Jewelers (NYSE:SIG) Price Target Raised to $75.00 at Wells Fargo & Company

Signet Jewelers (NYSE:SIG) had its price target increased by analysts at Wells Fargo & Company from $70.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 1.06% from the company’s current price.

Several other research firms have also issued reports on SIG. Telsey Advisory Group increased their target price on Signet Jewelers from $62.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday. Bank of America lifted their price target on Signet Jewelers from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group boosted their target price on shares of Signet Jewelers from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Cfra Research raised Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. Finally, CL King assumed coverage on Signet Jewelers in a report on Monday, May 5th. They issued a “buy” rating and a $80.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $86.00.

Signet Jewelers Price Performance

SIG opened at $74.21 on Wednesday. The company has a fifty day moving average price of $60.78 and a two-hundred day moving average price of $65.93. The firm has a market capitalization of $3.18 billion, a PE ratio of 8.56, a P/E/G 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 $109.52. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.17. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the company posted $1.11 EPS. Signet Jewelers’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts anticipate that Signet Jewelers will post 8.73 earnings per share for the current year.

Insider Buying and Selling

In other Signet Jewelers news, Director Helen Mccluskey purchased 1,700 shares of the business’s stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $58.86 per share, for a total transaction of $100,062.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James Kevin Symancyk acquired 15,000 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was purchased at an average price of $57.45 per share, for a total transaction of $861,750.00. Following the transaction, the chief executive officer now directly owns 50,710 shares of the company’s stock, valued at approximately $2,913,289.50. This trade represents a 42.01% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Signet Jewelers

Several hedge funds and other institutional investors have recently modified their holdings of SIG. Vanguard Group Inc. raised its holdings in Signet Jewelers by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,205,964 shares of the company’s stock worth $302,258,000 after acquiring an additional 389,852 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Signet Jewelers by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,550,233 shares of the company’s stock valued at $205,830,000 after acquiring an additional 139,109 shares during the period. Cooper Creek Partners Management LLC boosted its holdings in Signet Jewelers by 1,046.3% during the 4th quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company’s stock valued at $152,495,000 after acquiring an additional 1,724,592 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Signet Jewelers by 175.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,859,503 shares of the company’s stock worth $107,963,000 after purchasing an additional 1,183,214 shares during the period. Finally, Anomaly Capital Management LP increased its stake in Signet Jewelers by 862.5% in the 4th quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company’s stock worth $142,253,000 after buying an additional 1,579,410 shares during the period.

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.