Signet Jewelers (NYSE:SIG) Cut to "Hold" at Wall Street Zen

Signet Jewelers (NYSE:SIG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

A number of other research analysts have also recently issued reports on SIG. Jefferies Financial Group assumed coverage on Signet Jewelers in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 price objective for the company. Telsey Advisory Group lifted their target price on Signet Jewelers from $62.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, June 3rd. Bank of America lifted their target price on Signet Jewelers from $65.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. UBS Group lifted their target price on Signet Jewelers from $84.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Wells Fargo & Company lifted their target price on Signet Jewelers from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 4th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Signet Jewelers has an average rating of "Moderate Buy" and an average price target of $87.14.

Signet Jewelers Stock Performance

Shares of SIG traded down $0.38 on Friday, reaching $78.54. The stock had a trading volume of 808,346 shares, compared to its average volume of 1,219,420. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 85.37, a price-to-earnings-growth ratio of 0.73 and a beta of 1.39. The company has a 50-day simple moving average of $74.57 and a 200-day simple moving average of $63.85. Signet Jewelers has a 12-month low of $45.55 and a 12-month high of $106.28.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.17. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. Signet Jewelers had a return on equity of 22.41% and a net margin of 0.63%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 EPS. On average, analysts expect that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Insider Activity at Signet Jewelers

In related news, Director Helen Mccluskey bought 1,700 shares of the stock in a transaction that occurred on 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 transaction, the director owned 31,916 shares of the company's stock, valued at approximately $1,878,575.76. This trade represents a 5.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Signet Jewelers

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Signet Jewelers by 8.1% during the first 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in Signet Jewelers by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,550,233 shares of the company's stock valued at $205,830,000 after purchasing an additional 139,109 shares in the last quarter. Cooper Creek Partners Management LLC lifted its position in Signet Jewelers by 1,046.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company's stock valued at $152,495,000 after purchasing an additional 1,724,592 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Signet Jewelers by 175.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,859,503 shares of the company's stock valued at $107,963,000 after purchasing an additional 1,183,214 shares in the last quarter. Finally, Anomaly Capital Management LP lifted its position 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 acquiring an additional 1,579,410 shares in the last quarter.

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.