Signet Jewelers (NYSE:SIG) Sets New 52-Week Low – Should You Sell?

Signet Jewelers Limited (NYSE:SIG)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $46.51 and last traded at $46.93, with a volume of 38647 shares changing hands. The stock had previously closed at $48.17.

Wall Street Analysts Forecast Growth

SIG has been the subject of several analyst reports. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Bank of America dropped their target price on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company reduced their price target on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Telsey Advisory Group dropped their price objective on Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Signet Jewelers currently has an average rating of “Moderate Buy” and a consensus target price of $95.20.

Signet Jewelers Trading Down 3.0 %

The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The company has a market cap of $2.03 billion, a PE ratio of 5.38, a PEG ratio of 3.43 and a beta of 2.20. The stock has a 50 day moving average price of $59.29 and a 200 day moving average price of $80.29.

Insiders Place Their Bets

In related news, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $54.13, for a total value of $180,415.29. Following the sale, the director now owns 22,752 shares in the company, valued at $1,231,565.76. This represents a 12.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of Signet Jewelers by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,550,233 shares of the company’s stock valued at $205,830,000 after acquiring an additional 139,109 shares in the last quarter. Cooper Creek Partners Management LLC lifted its holdings in shares of Signet Jewelers by 1,046.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company’s stock valued at $152,495,000 after purchasing an additional 1,724,592 shares in the last quarter. Anomaly Capital Management LP boosted its position in shares of Signet Jewelers by 862.5% during the fourth quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company’s stock valued at $142,253,000 after buying an additional 1,579,410 shares during the last quarter. State Street Corp boosted its position in shares of Signet Jewelers by 1.0% during the third quarter. State Street Corp now owns 1,756,075 shares of the company’s stock valued at $181,122,000 after buying an additional 16,912 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Signet Jewelers by 18.9% in the 4th quarter. American Century Companies Inc. now owns 1,150,441 shares of the company’s stock worth $92,852,000 after buying an additional 182,948 shares in the last quarter.

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.