Signet Jewelers (SIG) Lowered to “Sector Perform” at Royal Bank of Canada

Signet Jewelers (NYSE:SIG) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Friday, Marketbeat.com reports. They presently have a $55.00 price objective on the stock. Royal Bank of Canada’s price objective points to a potential downside of 3.41% from the company’s previous close.

SIG has been the topic of several other reports. Wells Fargo & Co lowered shares of Signet Jewelers from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $75.00 to $60.00 in a research note on Tuesday, November 21st. ValuEngine upgraded shares of Signet Jewelers from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Bank of America set a $66.00 price target on shares of Signet Jewelers and gave the company a “buy” rating in a research note on Saturday, November 25th. Zacks Investment Research downgraded Signet Jewelers from a “hold” rating to a “strong sell” rating in a report on Monday, November 27th. Finally, Northcoast Research reissued a “neutral” rating on shares of Signet Jewelers in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $64.67.

Shares of Signet Jewelers (NYSE SIG) traded up $1.74 during trading on Friday, reaching $56.94. 2,840,000 shares of the company’s stock traded hands, compared to its average volume of 2,505,889. The stock has a market capitalization of $3,445.78, a price-to-earnings ratio of 8.71, a P/E/G ratio of 1.10 and a beta of 0.94. Signet Jewelers has a one year low of $46.09 and a one year high of $86.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.63 and a quick ratio of 0.76.

Several hedge funds have recently bought and sold shares of SIG. Commonwealth Bank of Australia lifted its holdings in shares of Signet Jewelers by 5.6% during the second quarter. Commonwealth Bank of Australia now owns 1,609 shares of the company’s stock worth $101,000 after purchasing an additional 85 shares during the period. Monroe Bank & Trust MI acquired a new stake in shares of Signet Jewelers during the third quarter worth $179,000. Capstone Investment Advisors Netherlands B.V. acquired a new stake in shares of Signet Jewelers during the second quarter worth $121,000. Tower Research Capital LLC TRC lifted its holdings in shares of Signet Jewelers by 19.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,016 shares of the company’s stock worth $128,000 after purchasing an additional 335 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Signet Jewelers during the third quarter worth $202,000.

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Signet Jewelers Company Profile

Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.