Stock On Watch: Is Signet Jewelers Ltd. a Sell? The Stock Reaches 52 Week Low Today

Stock On Watch: Is Signet Jewelers Ltd. a Sell? The Stock Reaches 52 Week Low Today

The stock of Signet Jewelers Ltd. (NYSE:SIG) hit a new 52-week low and has $68.63 target or 8.00% below today’s $74.60 share price. The 5 months bearish chart indicates high risk for the $5.51 billion company. The 1-year low was reported on Sep, 30 by Barchart.com. If the $68.63 price target is reached, the company will be worth $440.80 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 820,967 shares traded hands. Signet Jewelers Ltd. (NYSE:SIG) has declined 26.20% since February 26, 2016 and is downtrending. It has underperformed by 36.62% the S&P500.

Signet Jewelers Ltd. (NYSE:SIG) Ratings Coverage

Out of 15 analysts covering Signet Jewelers (NYSE:SIG), 10 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 67% are positive. Signet Jewelers has been the topic of 32 analyst reports since July 28, 2015 according to StockzIntelligence Inc. CLSA initiated Signet Jewelers Ltd. (NYSE:SIG) rating on Thursday, September 29. CLSA has “Outperform” rating and $87 price target. The stock of Signet Jewelers Ltd. (NYSE:SIG) earned “Buy” rating by Goldman Sachs on Monday, March 28. The stock of Signet Jewelers Ltd. (NYSE:SIG) has “Buy” rating given on Tuesday, August 23 by Deutsche Bank. Goldman Sachs downgraded Signet Jewelers Ltd. (NYSE:SIG) rating on Friday, May 27. Goldman Sachs has “Neutral” rating and $119 price target. Buckingham Research maintained Signet Jewelers Ltd. (NYSE:SIG) on Friday, August 28 with “Buy” rating. The stock has “Conviction Buy” rating given by Goldman Sachs on Thursday, October 29. The firm has “Buy” rating given on Tuesday, July 28 by Deutsche Bank. As per Tuesday, June 28, the company rating was maintained by RBC Capital Markets. The stock has “Outperform” rating given by Telsey Advisory Group on Friday, May 27. The stock has “Buy” rating given by Zacks on Wednesday, August 26.

According to Zacks Investment Research, “Signet Jewelers Ltd. is engaged in retailing of jewelry, watches and associated services. The company operates primarily in the United States, the United Kingdom, the Republic of Ireland and the Channel Islands. Signet Jewelers Ltd., formerly known as Signet Group PLC, is based in Hamilton, Bermuda.”

Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.28, from 1.25 in 2016Q1. The ratio dived, as 84 funds sold all Signet Jewelers Ltd. shares owned while 114 reduced positions. 56 funds bought stakes while 136 increased positions. They now own 77.93 million shares or 3.70% more from 75.15 million shares in 2016Q1.
Chevy Chase Tru Holdings last reported 67,096 shares in the company. Fred Alger last reported 848,157 shares in the company. Nordea Management reported 2,634 shares or 0% of all its holdings. Harvest Mgmt reported 2,600 shares or 0.16% of all its holdings. Aqr Capital Management Ltd Liability accumulated 56,346 shares or 0.01% of the stock. Palouse Capital Mngmt Inc has 0.64% invested in the company for 19,132 shares. Savings Bank Of America De holds 675,764 shares or 0.01% of its portfolio. Atria Invests Ltd Liability, a North Carolina-based fund reported 3,354 shares. Capstone Asset Mgmt owns 9,990 shares or 0.02% of their US portfolio. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0.01% in Signet Jewelers Ltd. (NYSE:SIG). Howard Hughes Institute accumulated 1.32% or 47,672 shares. Timessquare Mngmt Llc holds 0.27% or 488,000 shares in its portfolio. Srb has invested 0.02% of its portfolio in Signet Jewelers Ltd. (NYSE:SIG). Ironwood Fincl Lc, a Arizona-based fund reported 19,527 shares. Barclays Public Limited has invested 0.01% of its portfolio in Signet Jewelers Ltd. (NYSE:SIG).

Insider Transactions: Since June 7, 2016, the stock had 16 insider buys, and 0 insider sales for $1.35 million net activity. Stitzer H. Todd also bought $300,150 worth of Signet Jewelers Ltd. (NYSE:SIG) shares. 335 shares with value of $29,868 were bought by Ulasewicz Eugenia on Friday, June 10. 1,000 shares with value of $89,550 were bought by Stack Robert on Friday, June 10. The insider McCluskey Helen bought 5 shares worth $453. Drosos Virginia bought $100,141 worth of Signet Jewelers Ltd. (NYSE:SIG) on Friday, June 10. Shares for $41,177 were bought by Dennison Judith Lynn. 850 Signet Jewelers Ltd. (NYSE:SIG) shares with value of $73,092 were bought by Brenner Philip Joseph.

More notable recent Signet Jewelers Ltd. (NYSE:SIG) news were published by: Businesswire.com which released: “STOCK LOSS ALERT: Rosen Law Firm Reminds Signet Jewelers Limited Investors of …” on September 26, 2016, also Finance.Yahoo.com with their article: “Robbins Arroyo LLP: Signet Jewelers Limited (SIG) Misled Shareholders …” published on September 19, 2016, Nasdaq.com published: “The Zacks Analyst Blog Highlights: G-III Apparel, Signet Jewelers, Express …” on September 30, 2016. More interesting news about Signet Jewelers Ltd. (NYSE:SIG) were released by: Finance.Yahoo.com and their article: “IMPORTANT SIGNET JEWELERS LIMITED SHAREHOLDER ALERT: Wolf Haldenstein Adler …” published on August 31, 2016 as well as Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered …” with publication date: September 20, 2016.

SIG Company Profile

Signet Jewelers Limited, incorporated on June 25, 2008, is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s divisions are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment. The Other segment includes subsidiaries involved in purchasing and conversion of rough diamonds to polished stones. The Firm operates retail jewelry stores in various real estate formats, including mall-based, free-standing, strip center and outlet store locations. The Firm operates approximately 3,620 stores and kiosks across over five million square feet of retail space.

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