What’s Signet Jewelers Limited (SIG) Downside After Making 52 Week Low?

March 14, 2018 - By Peter Erickson

Investors sentiment decreased to 0.77 in Q3 2017. Its down 0.20, from 0.97 in 2017Q2. It fall, as 32 investors sold Signet Jewelers Limited shares while 132 reduced holdings. 61 funds opened positions while 66 raised stakes. 67.66 million shares or 6.80% less from 72.59 million shares in 2017Q2 were reported.
Rainier Investment Management Ltd Com holds 38,910 shares. Barclays Plc owns 49,100 shares. 118,159 are held by Alyeska Inv Group Incorporated L P. Moon Cap L P holds 218,205 shares. Meag Munich Ergo Kapitalanlagegesellschaft Mbh has 36,342 shares. Apg Asset Mngmt Nv stated it has 130,858 shares. Primecap Management Ca has 0.01% invested in Signet Jewelers Limited (NYSE:SIG) for 97,000 shares. Verition Fund Mngmt Ltd Liability Com stated it has 4,081 shares. State Of Alaska Department Of Revenue holds 9,190 shares. Virtus Advisers Inc has invested 0.01% in Signet Jewelers Limited (NYSE:SIG). Dynamic Capital Ltd holds 0.62% or 32,281 shares in its portfolio. 125 are owned by Spectrum Mgmt. Louisiana State Employees Retirement Sys has invested 0.01% in Signet Jewelers Limited (NYSE:SIG). Dimensional Fund Limited Partnership has 0.04% invested in Signet Jewelers Limited (NYSE:SIG) for 1.45 million shares. Amica Mutual has 22,284 shares.

Since January 11, 2018, it had 1 insider purchase, and 0 selling transactions for $5.00 million activity.

The stock of Signet Jewelers Limited (NYSE:SIG) hit a new 52-week low and has $35.48 target or 8.00 % below today’s $38.56 share price. The 7 months bearish chart indicates high risk for the $2.33 billion company. The 1-year low was reported on Mar, 14 by Barchart.com. If the $35.48 price target is reached, the company will be worth $186.72M 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.

The stock decreased 19.52% or $9.3499 during the last trading session, reaching $38.5601. About 18.55 million shares traded or 779.72% up from the average. Signet Jewelers Limited (NYSE:SIG) has declined 46.03% since March 14, 2017 and is downtrending. It has underperformed by 62.73% the S&P500.

Signet Jewelers Limited (NYSE:SIG) Ratings Coverage

Among 22 analysts covering Signet Jewelers (NYSE:SIG), 8 have Buy rating, 0 Sell and 14 Hold. Therefore 36% are positive. Signet Jewelers had 72 analyst reports since July 28, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, November 22 by RBC Capital Markets. The stock of Signet Jewelers Limited (NYSE:SIG) earned “Neutral” rating by Buckingham Research on Tuesday, November 14. Nomura maintained Signet Jewelers Limited (NYSE:SIG) rating on Tuesday, July 18. Nomura has “Buy” rating and $7000 target. Deutsche Bank maintained Signet Jewelers Limited (NYSE:SIG) on Tuesday, August 23 with “Buy” rating. BNP Paribas upgraded Signet Jewelers Limited (NYSE:SIG) on Wednesday, August 19 to “Outperform” rating. The firm has “Outperform” rating by Telsey Advisory Group given on Friday, August 28. Citigroup downgraded Signet Jewelers Limited (NYSE:SIG) rating on Friday, August 26. Citigroup has “Neutral” rating and $83 target. Buckingham Research maintained the shares of SIG in report on Friday, August 25 with “Neutral” rating. RBC Capital Markets maintained Signet Jewelers Limited (NYSE:SIG) on Friday, August 26 with “Outperform” rating. The rating was initiated by JP Morgan with “Overweight” on Friday, November 6.

More notable recent Signet Jewelers Limited (NYSE:SIG) news were published by: Valuewalk.com which released: “Signet Jewelers Ltd. (SIG) Fundamental Valuation Report” on March 06, 2018, also Nasdaq.com with their article: “Commit To Buy Signet Jewelers At $30, Earn 10.7% Using Options” published on March 06, 2018, Seekingalpha.com published: “Signet Jewelers: Were The Numbers That Bad?” on November 23, 2017. More interesting news about Signet Jewelers Limited (NYSE:SIG) were released by: Ibj.com and their article: “Shopping mall jewelry giant planning to weed out hundreds of stores” published on March 14, 2018 as well as Streetinsider.com‘s news article titled: “Form 3 SIGNET JEWELERS LTD For: Mar 01 Filed by: SCHUMACHER CAROL A” with publication date: March 08, 2018.

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, and the Channel Islands. The company has market cap of $2.33 billion. The Company’s 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 regional brands. It has a 5.86 P/E ratio. As of January 28, 2017, this division operated 1,588 stores.

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