Signet Jewelers (NYSE:SIG) Given New $75.00 Price Target at Wells Fargo & Company

Signet Jewelers (NYSE:SIG - Get Free Report) had its target price lifted by analysts at Wells Fargo & Company from $70.00 to $75.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential downside of 3.67% from the stock's previous close.

Several other brokerages have also recently weighed in on SIG. Cfra Research raised Signet Jewelers to a "moderate buy" rating in a research note on Thursday, March 20th. Telsey Advisory Group raised 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 report on Tuesday. UBS Group boosted their target price on shares of Signet Jewelers from $77.00 to $84.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Bank of America increased their target price 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, CL King started coverage on shares of Signet Jewelers in a research report on Monday, May 5th. They issued a "buy" rating and a $80.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Signet Jewelers presently has an average rating of "Hold" and a consensus price target of $84.67.

Signet Jewelers Price Performance

SIG traded up $3.06 on Wednesday, reaching $77.86. The company had a trading volume of 1,694,874 shares, compared to its average volume of 1,219,796. The company has a market capitalization of $3.34 billion, a P/E ratio of 8.96, a PEG ratio of 3.43 and a beta of 1.36. 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 company has a fifty day moving average of $61.79 and a 200-day moving average of $65.52. 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 posted its quarterly earnings data 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 analysts' expectations of $1.52 billion. During the same period last year, the firm posted $1.11 earnings per share. The business's revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that Signet Jewelers will post 8.73 earnings per share for the current year.

Insider Activity at Signet Jewelers

In other news, Director Helen Mccluskey bought 1,700 shares of the business's stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $58.86 per share, with a total value of $100,062.00. Following the purchase, the director now directly owns 31,916 shares in the company, valued at $1,878,575.76. This trade represents a 5.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Kevin Symancyk bought 15,000 shares of Signet Jewelers stock in a transaction dated Monday, March 31st. The stock was acquired at an average price of $57.45 per share, with a total value of $861,750.00. Following the acquisition, the chief executive officer now directly owns 50,710 shares of the company's stock, valued at approximately $2,913,289.50. This represents a 42.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. 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 business. Vanguard Group Inc. boosted its holdings in shares of Signet Jewelers by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,205,964 shares of the company's stock worth $302,258,000 after purchasing an additional 389,852 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Signet Jewelers by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,550,233 shares of the company's stock valued at $205,830,000 after buying an additional 139,109 shares during the period. Cooper Creek Partners Management LLC boosted its stake in shares of 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 valued at $152,495,000 after buying an additional 1,724,592 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Signet Jewelers by 175.0% during 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 in the last quarter. Finally, Anomaly Capital Management LP increased 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 worth $142,253,000 after acquiring an additional 1,579,410 shares during 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.