Signet Jewelers (NYSE:SIG) Coverage Initiated by Analysts at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group initiated coverage on shares of Signet Jewelers (NYSE:SIGGet Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $102.00 price target on the stock. Jefferies Financial Group’s price target points to a potential upside of 26.74% from the stock’s current price.

A number of other analysts also recently commented on SIG. UBS Group boosted their target price on shares of Signet Jewelers from $84.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Cfra Research raised shares of Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. Telsey Advisory Group boosted 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, June 3rd. Citigroup boosted their price objective on shares of Signet Jewelers from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Finally, CL King assumed coverage on shares of Signet Jewelers in a research report on Monday, May 5th. They set a “buy” rating and a $80.00 price objective on the stock. Four research 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.14.

Check Out Our Latest Research Report on SIG

Signet Jewelers Price Performance

NYSE SIG opened at $80.48 on Monday. The company’s 50 day simple moving average is $65.25 and its 200 day simple moving average is $64.47. Signet Jewelers has a 12 month low of $45.55 and a 12 month high of $106.28. The company has a market capitalization of $3.31 billion, a P/E ratio of 87.48, a PEG ratio of 0.76 and a beta of 1.36.

Signet Jewelers (NYSE:SIGGet Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.17. Signet Jewelers had a net margin of 0.63% and a return on equity of 22.41%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm earned $1.11 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts anticipate that Signet Jewelers will post 8.73 earnings per share for the current year.

Insider Activity at Signet Jewelers

In related news, Director Helen Mccluskey purchased 1,700 shares of the business’s stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $58.86 per share, with a total value of $100,062.00. Following the completion of the purchase, the director now owns 31,916 shares in the company, valued at $1,878,575.76. This represents a 5.63% increase in their position. The acquisition was disclosed in a filing 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 that occurred on Monday, March 31st. The shares were 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 $2,913,289.50. The trade was a 42.01% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Signet Jewelers

A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in shares of Signet Jewelers by 30.5% in the 4th quarter. Van ECK Associates Corp now owns 36,655 shares of the company’s stock valued at $2,958,000 after purchasing an additional 8,574 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Signet Jewelers by 3.8% in the 4th quarter. Rhumbline Advisers now owns 133,033 shares of the company’s stock worth $10,737,000 after buying an additional 4,853 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Signet Jewelers by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 213,535 shares of the company’s stock valued at $17,234,000 after purchasing an additional 3,377 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Signet Jewelers during the fourth quarter valued at about $351,000. Finally, Bank of New York Mellon Corp increased its position in shares of Signet Jewelers by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 338,247 shares of the company’s stock worth $27,300,000 after purchasing an additional 6,542 shares during the last quarter.

About Signet Jewelers

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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