Signet Jewelers (NYSE:SIG) Stock Price Expected to Rise, UBS Group Analyst Says

Signet Jewelers (NYSE:SIG) had its price objective raised by UBS Group from $84.00 to $95.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently weighed in on SIG. Cfra Research raised Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. CL King assumed coverage on Signet Jewelers in a research note on Monday, May 5th. They issued a “buy” rating and a $80.00 target price on the stock. Wells Fargo & Company lifted their price target on Signet Jewelers from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday. Telsey Advisory Group boosted their price target on Signet Jewelers from $62.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Bank of America raised their price objective on shares of Signet Jewelers from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Signet Jewelers currently has a consensus rating of “Hold” and a consensus price target of $84.67.

Signet Jewelers Trading Up 4.1%

Signet Jewelers stock opened at $77.86 on Wednesday. Signet Jewelers has a 52 week low of $45.55 and a 52 week high of $109.52. The stock has a 50-day moving average price of $61.79 and a 200 day moving average price of $65.74. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 3.43 and a beta of 1.36.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $1.18 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 for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the firm earned $1.11 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts anticipate that Signet Jewelers will post 8.73 EPS for the current year.

Signet Jewelers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, July 25th will be paid a $0.32 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.28 annualized dividend and a dividend yield of 1.64%. Signet Jewelers’s dividend payout ratio is presently 139.13%.

Insider Buying and Selling

In related news, Director Helen Mccluskey purchased 1,700 shares of the company’s stock in a transaction that occurred 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 purchase, the director now owns 31,916 shares of the company’s stock, valued at $1,878,575.76. The trade was a 5.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Kevin Symancyk purchased 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was bought at an average cost of $57.45 per share, with a total value of $861,750.00. Following the acquisition, the chief executive officer now owns 50,710 shares in the company, valued at $2,913,289.50. This represents 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 Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group boosted its holdings in Signet Jewelers by 42,700.0% in the 1st quarter. Brooklyn Investment Group now owns 428 shares of the company’s stock worth $25,000 after buying an additional 427 shares during the last quarter. Allworth Financial LP lifted its position in shares of Signet Jewelers by 946.8% in the first quarter. Allworth Financial LP now owns 492 shares of the company’s stock valued at $29,000 after acquiring an additional 445 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Signet Jewelers in the first quarter worth approximately $36,000. Versant Capital Management Inc boosted its stake in shares of Signet Jewelers by 40.5% in 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 during the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in shares of Signet Jewelers during the first quarter worth $45,000.

About Signet Jewelers

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.