Signet Jewelers (NYSE:SIG) Stock Gets Downgrade from Zacks Research

Signet Jewelers (NYSE:SIG) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other analysts also recently weighed in on the stock. Raymond James Financial raised their price target on shares of Signet Jewelers from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, September 10th. UBS Group upped their price target on shares of Signet Jewelers from $122.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, September 10th. The Goldman Sachs Group increased their price objective on shares of Signet Jewelers from $96.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, September 10th. Weiss Ratings upgraded shares of Signet Jewelers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 24th. Finally, Stephens reissued an “overweight” rating and set a $130.00 price objective on shares of Signet Jewelers in a report on Tuesday, September 8th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.56.

Signet Jewelers Stock Performance

Shares of SIG opened at $120.36 on Monday. The company has a market capitalization of $4.61 billion, a P/E ratio of 13.87, a P/E/G ratio of 0.65 and a beta of 1.05. Signet Jewelers has a one year low of $71.61 and a one year high of $129.26. The stock has a 50-day moving average price of $106.45 and a 200 day moving average price of $93.10.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.50. Signet Jewelers had a return on equity of 23.28% and a net margin of 5.19%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $1.61 EPS. Signet Jewelers’s quarterly revenue was down .5% on a year-over-year basis. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. As a group, equities research analysts forecast that Signet Jewelers will post 11.70 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Stash Ptak sold 405 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $48,600.00. Following the sale, the insider directly owned 20,428 shares of the company’s stock, valued at approximately $2,451,360. This represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.17% of the company’s stock.

Institutional Trading of Signet Jewelers

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its position in shares of Signet Jewelers by 720.5% in the 3rd quarter. Global Retirement Partners LLC now owns 320 shares of the company’s stock worth $33,000 after buying an additional 281 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Signet Jewelers by 89.0% during the 3rd quarter. Parallel Advisors LLC now owns 361 shares of the company’s stock valued at $37,000 after buying an additional 170 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Signet Jewelers during the 2nd quarter valued at about $32,000. Salomon & Ludwin LLC raised its stake in Signet Jewelers by 100.9% during the third quarter. Salomon & Ludwin LLC now owns 450 shares of the company’s stock worth $46,000 after acquiring an additional 226 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Signet Jewelers by 46.2% during the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $86,000 after acquiring an additional 266 shares during the period.

Signet Jewelers Company Profile

Signet Jewelers is a specialty jewelry retailer that sells diamond, bridal and fashion jewelry, watches, and related services through a portfolio of retail brands. Its brands include Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, James Allen, Blue Nile, H.Samuel, Ernest Jones, and Peoples Jewellers. The company serves customers through stores and online channels in the United States, Canada, and the United Kingdom. Its offerings include engagement and wedding jewelry, jewelry repair, customization, and piercing services.