Signet Jewelers (NYSE:SIG) Earns Buy Rating from Analysts at Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of Signet Jewelers (NYSE:SIG) in a report issued on Monday,Benzinga reports. The firm set a “buy” rating and a $102.00 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 33.46% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. UBS Group increased their price objective on shares of Signet Jewelers from $84.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Bank of America increased their price target on Signet Jewelers from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, June 4th. Wells Fargo & Company boosted their price target on Signet Jewelers from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. Citigroup upped their price objective on Signet Jewelers from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Finally, Cfra Research raised shares of Signet Jewelers to a “moderate buy” rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.14.

Signet Jewelers Stock Down 3.3%

Shares of Signet Jewelers stock opened at $76.43 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25. The company has a market capitalization of $3.15 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 3.43 and a beta of 1.36. The business has a 50-day moving average of $64.18 and a two-hundred day moving average of $64.48. Signet Jewelers has a 1 year low of $45.55 and a 1 year high of $106.28.

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

Insider Buying and Selling at Signet Jewelers

In related news, CEO James Kevin Symancyk purchased 15,000 shares of Signet Jewelers stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average price of $57.45 per share, with a total value of $861,750.00. Following the completion of the transaction, the chief executive officer now directly owns 50,710 shares of the company’s stock, valued at $2,913,289.50. This represents a 42.01% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Helen Mccluskey bought 1,700 shares of Signet Jewelers stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $58.86 per share, for a total transaction of $100,062.00. Following the completion of the acquisition, the director now owns 31,916 shares in the company, valued at $1,878,575.76. This represents a 5.63% increase in their position. 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 company. Van ECK Associates Corp increased its stake in Signet Jewelers by 30.5% in the fourth quarter. Van ECK Associates Corp now owns 36,655 shares of the company’s stock valued at $2,958,000 after acquiring an additional 8,574 shares during the last quarter. Rhumbline Advisers boosted its stake in Signet Jewelers by 3.8% in the fourth quarter. Rhumbline Advisers now owns 133,033 shares of the company’s stock valued at $10,737,000 after buying an additional 4,853 shares in the last quarter. Principal Financial Group Inc. grew its position in Signet Jewelers by 1.6% in the fourth quarter. Principal Financial Group Inc. now owns 213,535 shares of the company’s stock valued at $17,234,000 after acquiring an additional 3,377 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Signet Jewelers in the fourth quarter worth about $351,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Signet Jewelers by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 338,247 shares of the company’s stock valued at $27,300,000 after purchasing an additional 6,542 shares in the last quarter.

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.