Signet Jewelers (NYSE:SIG) PT Raised to $98.00

Posted by Defense World Staff on Mar 19th, 2023

Signet Jewelers (NYSE:SIG – Get Rating) had its price objective increased by research analysts at UBS Group from $92.00 to $98.00 in a research report issued to clients and investors on Friday, The Fly reports. UBS Group’s price target indicates a potential upside of 33.70% from the company’s previous close.

SIG has been the subject of several other research reports. Bank of America raised their price target on Signet Jewelers from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 7th. Citigroup lifted their price objective on Signet Jewelers from $60.00 to $77.00 in a research report on Wednesday, December 7th. Wells Fargo & Company lifted their price objective on Signet Jewelers from $90.00 to $100.00 in a research report on Friday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $75.00 price objective on shares of Signet Jewelers in a research report on Thursday. Finally, StockNews.com started coverage on Signet Jewelers in a research report on Thursday. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Signet Jewelers Stock Performance

Signet Jewelers stock opened at $73.30 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 1.56. The stock has a fifty day moving average of $74.56 and a two-hundred day moving average of $66.60. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.78 and a beta of 2.18. Signet Jewelers has a fifty-two week low of $48.31 and a fifty-two week high of $84.11.

Signet Jewelers (NYSE:SIG – Get Rating) last released its quarterly earnings results on Thursday, March 16th. The company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.35 by $0.17. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.65 billion. Signet Jewelers had a return on equity of 47.90% and a net margin of 5.18%. Signet Jewelers’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $5.01 earnings per share. On average, analysts anticipate that Signet Jewelers will post 11.33 EPS for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, CEO Virginia Drosos sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $75.88, for a total transaction of $758,800.00. Following the completion of the sale, the chief executive officer now owns 1,106,059 shares of the company’s stock, valued at $83,927,756.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Signet Jewelers news, CEO Virginia Drosos sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $75.88, for a total transaction of $758,800.00. Following the transaction, the chief executive officer now owns 1,106,059 shares in the company, valued at $83,927,756.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stash Ptak sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the insider now owns 34,333 shares in the company, valued at approximately $2,574,975. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,000 shares of company stock valued at $1,570,000. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ronald Blue Trust Inc. lifted its stake in shares of Signet Jewelers by 81.6% during the fourth quarter. Ronald Blue Trust Inc. now owns 514 shares of the company’s stock worth $29,000 after purchasing an additional 231 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Signet Jewelers by 342.8% during the third quarter. Quadrant Capital Group LLC now owns 766 shares of the company’s stock worth $44,000 after purchasing an additional 593 shares in the last quarter. Archer Investment Corp lifted its stake in shares of Signet Jewelers by 28.6% in the fourth quarter. Archer Investment Corp now owns 900 shares of the company’s stock worth $61,000 after acquiring an additional 200 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Signet Jewelers by 22.5% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 965 shares of the company’s stock worth $66,000 after acquiring an additional 177 shares in the last quarter. Finally, Repertoire Partners LP acquired a new position in shares of Signet Jewelers in the third quarter worth about $57,000. Institutional investors and hedge funds own 97.88% of the company’s stock.

Signet Jewelers Company Profile

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Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segments: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H.

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