Signet Jewelers Ltd. (SIG) Receives $37.25 Average Price Target from Brokerages

Shares of Signet Jewelers Ltd. (NYSE:SIG) have been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $37.25.

Several analysts recently weighed in on the company. Telsey Advisory Group restated a “market perform” rating and set a $60.00 target price (down previously from $69.00) on shares of Signet Jewelers in a research note on Monday, December 3rd. Royal Bank of Canada decreased their target price on Signet Jewelers to $46.00 and set an “in-line” rating for the company in a research note on Friday, December 7th. Nomura set a $42.00 target price on Signet Jewelers and gave the company a “hold” rating in a research note on Monday, December 10th. Wells Fargo & Co decreased their target price on Signet Jewelers from $42.00 to $38.00 and set a “market perform” rating for the company in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research upgraded Signet Jewelers from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 20th.

Several hedge funds have recently made changes to their positions in SIG. Norges Bank bought a new stake in shares of Signet Jewelers in the 4th quarter worth approximately $25,113,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Signet Jewelers in the 4th quarter worth approximately $19,062,000. JPMorgan Chase & Co. lifted its position in shares of Signet Jewelers by 95.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 542,140 shares of the company’s stock worth $35,744,000 after acquiring an additional 265,018 shares during the period. LSV Asset Management lifted its position in shares of Signet Jewelers by 160.1% in the 4th quarter. LSV Asset Management now owns 368,500 shares of the company’s stock worth $11,707,000 after acquiring an additional 226,826 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in shares of Signet Jewelers in the 3rd quarter worth approximately $12,958,000.

NYSE:SIG traded down $0.53 during mid-day trading on Thursday, hitting $27.52. 28,437 shares of the company’s stock traded hands, compared to its average volume of 1,285,900. Signet Jewelers has a 12 month low of $23.61 and a 12 month high of $71.07. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 4.22, a PEG ratio of 1.33 and a beta of 1.04. The company has a quick ratio of 0.27, a current ratio of 2.20 and a debt-to-equity ratio of 0.49.

About Signet Jewelers

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands, as well as JamesAllen.com, an online jewelry retailer Website.

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Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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