Signet Jewelers (NYSE:SIG) Price Target Raised to $78.00 at Bank of America

Signet Jewelers (NYSE:SIG - Get Free Report) had its price objective upped by research analysts at Bank of America from $65.00 to $78.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's target price points to a potential upside of 0.18% from the company's current price.

SIG has been the subject of a number of other reports. Wells Fargo & Company raised their target price on shares of Signet Jewelers from $60.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Telsey Advisory Group increased their price target on shares of Signet Jewelers from $62.00 to $80.00 and gave the stock a "market perform" rating in a research note on Tuesday. UBS Group boosted their price objective on shares of Signet Jewelers from $77.00 to $84.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. CL King assumed coverage on Signet Jewelers in a research note on Monday, May 5th. They set a "buy" rating and a $80.00 price target on the stock. Finally, Cfra Research raised Signet Jewelers to a "moderate buy" rating in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Signet Jewelers currently has a consensus rating of "Hold" and an average price target of $84.67.

Signet Jewelers Stock Performance

Shares of NYSE:SIG traded up $3.06 during trading on Wednesday, hitting $77.86. 1,694,874 shares of the company traded hands, compared to its average volume of 1,219,796. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The business's fifty day moving average is $61.79 and its 200-day moving average is $65.52. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 3.43 and a beta of 1.36. Signet Jewelers has a one year low of $45.55 and a one year high of $109.52.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.17. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned $1.11 earnings per share. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts predict that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO James Kevin Symancyk bought 15,000 shares of the stock in a transaction on Monday, March 31st. The stock was purchased at an average price of $57.45 per share, with a total value of $861,750.00. Following the completion of the purchase, the chief executive officer now 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Helen Mccluskey purchased 1,700 shares of Signet Jewelers stock in a transaction dated Friday, April 25th. The shares were purchased 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 owns 31,916 shares of the company's stock, valued at approximately $1,878,575.76. This represents a 5.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Signet Jewelers

Several large investors have recently modified their holdings of SIG. Cooper Creek Partners Management LLC boosted its position 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 worth $152,495,000 after acquiring an additional 1,724,592 shares during the last quarter. Anomaly Capital Management LP grew its stake in shares of Signet Jewelers by 862.5% in the fourth quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company's stock valued at $142,253,000 after buying an additional 1,579,410 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Signet Jewelers by 175.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,859,503 shares of the company's stock valued at $107,963,000 after acquiring an additional 1,183,214 shares during the period. Norges Bank acquired a new position in shares of Signet Jewelers during the 4th quarter worth about $40,989,000. Finally, Vanguard Group Inc. raised its holdings in shares of Signet Jewelers by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,205,964 shares of the company's stock valued at $302,258,000 after purchasing an additional 389,852 shares during the period.

Signet Jewelers Company Profile

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.