Wells Fargo & Company Issues Positive Forecast for Signet Jewelers (NYSE:SIG) Stock Price

Signet Jewelers (NYSE:SIG - Get Free Report) had its target price raised by equities researchers at Wells Fargo & Company from $70.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 0.32% from the company's previous close.

SIG has been the topic of several other reports. Cfra Research raised shares of Signet Jewelers to a "moderate buy" rating in a report on Thursday, March 20th. CL King assumed coverage on shares of Signet Jewelers in a research note on Monday, May 5th. They issued a "buy" rating and a $80.00 price objective on the stock. Telsey Advisory Group lifted their price objective on shares of Signet Jewelers from $62.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday. Bank of America lifted their price objective on shares of Signet Jewelers from $65.00 to $78.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, UBS Group lifted their price objective on shares of Signet Jewelers from $77.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $84.67.

Signet Jewelers Stock Up 0.5%

Shares of Signet Jewelers stock traded up $0.36 during trading hours on Wednesday, reaching $74.76. 1,167,426 shares of the company's stock were exchanged, compared to its average volume of 1,212,030. The company has a 50 day moving average of $61.09 and a two-hundred day moving average of $65.99. Signet Jewelers has a fifty-two week low of $45.55 and a fifty-two week high of $109.52. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.21 billion, a P/E ratio of 8.60, a P/E/G ratio of 3.43 and a beta of 1.34.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.17. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted $1.11 EPS. Signet Jewelers's revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, CEO James Kevin Symancyk purchased 15,000 shares of the business's stock in a transaction dated Monday, March 31st. The shares were bought at an average price of $57.45 per share, for a total transaction of $861,750.00. Following the completion of the acquisition, the chief executive officer now owns 50,710 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Helen Mccluskey purchased 1,700 shares of the business's stock in a transaction dated Friday, April 25th. The shares were acquired at an average price of $58.86 per share, for a total transaction of $100,062.00. Following the acquisition, the director now owns 31,916 shares of the company's stock, valued at $1,878,575.76. This trade represents a 5.63% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Signet Jewelers

Several hedge funds and other institutional investors have recently bought and sold shares of SIG. Brooklyn Investment Group increased its position in shares of Signet Jewelers by 42,700.0% during the first quarter. Brooklyn Investment Group now owns 428 shares of the company's stock worth $25,000 after acquiring an additional 427 shares in the last quarter. Allworth Financial LP increased its position in shares of Signet Jewelers by 946.8% during the first quarter. Allworth Financial LP now owns 492 shares of the company's stock worth $29,000 after acquiring an additional 445 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Signet Jewelers during the first quarter worth about $36,000. Versant Capital Management Inc increased its position in shares of Signet Jewelers by 40.5% during the first quarter. Versant Capital Management Inc now owns 773 shares of the company's stock worth $45,000 after acquiring an additional 223 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Signet Jewelers during the first quarter worth about $45,000.

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.