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

Key Points

• Zacks Research downgraded Signet Jewelers from “strong buy” to “hold.” Across analysts, the stock has six Buy and six Hold ratings, with a “Moderate Buy” consensus and an average price target of $125.56.
• Signet reported quarterly earnings of $2.19 per share, beating the $1.69 consensus estimate; revenue was $1.53 billion, roughly in line with estimates and down 0.5% year over year.
• Shares opened at $120.36 and were up 1.5% in the session, with a 12-month trading range of $71.61 to $129.26.

Signet Jewelers (NYSE:SIG - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday, Zacks reports.

Several other equities research analysts also recently commented on SIG. Wells Fargo & Company boosted their target price on shares of Signet Jewelers from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 9th. Weiss Ratings raised shares of Signet Jewelers from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, September 24th. The Goldman Sachs Group lifted their price target on Signet Jewelers from $96.00 to $109.00 and gave the company a "neutral" rating in a research note on Thursday, September 10th. Telsey Advisory Group boosted their price objective on Signet Jewelers from $96.00 to $105.00 and gave the stock a "market perform" rating in a report on Thursday, September 10th. Finally, Bank of America boosted their price objective on Signet Jewelers from $102.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, September 10th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Signet Jewelers has an average rating of "Moderate Buy" and an average price target of $125.56.

Signet Jewelers Trading Up 1.5%

NYSE SIG opened at $120.36 on Monday. The company has a fifty day simple moving average of $106.45 and a 200 day simple moving average of $93.10. Signet Jewelers has a 12-month low of $71.61 and a 12-month high of $129.26. The company has a market cap of $4.61 billion, a P/E ratio of 13.87, a PEG ratio of 0.65 and a beta of 1.05.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.50. Signet Jewelers had a net margin of 5.19% and a return on equity of 23.28%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business posted $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. Sell-side analysts predict that Signet Jewelers will post 11.70 EPS for the current year.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, insider Stash Ptak sold 1,595 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $120.00, for a total value of $191,400.00. Following the completion of the sale, the insider directly owned 20,833 shares of the company's stock, valued at approximately $2,499,960. This represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. lifted its holdings in Signet Jewelers by 18.5% during the first quarter. Bessemer Group Inc. now owns 76,274 shares of the company's stock worth $6,456,000 after acquiring an additional 11,926 shares during the period. Principal Financial Group Inc. boosted its position in Signet Jewelers by 35.9% in the first quarter. Principal Financial Group Inc. now owns 265,235 shares of the company's stock worth $22,449,000 after purchasing an additional 70,110 shares during the last quarter. California State Teachers Retirement System boosted its position in Signet Jewelers by 29.6% in the first quarter. California State Teachers Retirement System now owns 45,309 shares of the company's stock worth $3,835,000 after purchasing an additional 10,354 shares during the last quarter. Engineers Gate Manager LP boosted its position in Signet Jewelers by 125.6% in the second quarter. Engineers Gate Manager LP now owns 28,610 shares of the company's stock worth $2,466,000 after purchasing an additional 15,926 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Signet Jewelers by 11.9% in the 1st quarter. Empowered Funds LLC now owns 156,800 shares of the company's stock valued at $13,272,000 after purchasing an additional 16,665 shares during the period.

About Signet Jewelers

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.

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