Signet Jewelers (NYSE:SIG) Price Target Raised to $100.00

Signet Jewelers (NYSE:SIG) had its price target raised by Citigroup from $85.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on SIG. UBS Group raised their price target on Signet Jewelers from $84.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. CL King initiated coverage on Signet Jewelers in a research report on Monday, May 5th. They set a “buy” rating and a $80.00 target price on the stock. Bank of America boosted their target price on Signet Jewelers from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday. Telsey Advisory Group upped their price target on Signet Jewelers from $62.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Wells Fargo & Company raised their price objective on shares of Signet Jewelers from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.67.

Signet Jewelers Stock Performance

Shares of SIG opened at $77.86 on Wednesday. Signet Jewelers has a 1 year low of $45.55 and a 1 year high of $109.52. The stock has a market capitalization of $3.34 billion, a PE ratio of 8.96, a PEG ratio of 3.43 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. The stock has a 50-day simple moving average of $61.79 and a 200-day simple moving average of $65.74.

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

Signet Jewelers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, July 25th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, July 25th. Signet Jewelers’s payout ratio is currently 139.13%.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, CEO James Kevin Symancyk purchased 15,000 shares of Signet Jewelers stock in a transaction that occurred 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 in the company, valued at $2,913,289.50. This trade represents a 42.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Helen Mccluskey purchased 1,700 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $58.86 per share, with a total value of $100,062.00. Following the purchase, the director now owns 31,916 shares in the company, valued at $1,878,575.76. This trade represents a 5.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in Signet Jewelers during the 1st quarter valued at approximately $598,000. Bayforest Capital Ltd purchased a new position in shares of Signet Jewelers in the 1st quarter valued at approximately $1,095,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Signet Jewelers by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,573 shares of the company’s stock valued at $7,117,000 after purchasing an additional 10,964 shares during the period. Optimize Financial Inc raised its stake in shares of Signet Jewelers by 118.7% during the first quarter. Optimize Financial Inc now owns 14,416 shares of the company’s stock worth $837,000 after purchasing an additional 7,825 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Signet Jewelers by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company’s stock worth $49,333,000 after purchasing an additional 213,365 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.