Stephens Reaffirms Overweight Rating for Signet Jewelers (NYSE:SIG)

Signet Jewelers (NYSE:SIG)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a research note issued on Tuesday, Benzinga reports. They presently have a $130.00 price objective on the stock. Stephens’ price objective points to a potential upside of 52.83% from the company’s current price.

Several other equities research analysts also recently issued reports on SIG. Wells Fargo & Company reaffirmed a “mixed” rating on shares of Signet Jewelers in a research report on Wednesday, June 3rd. UBS Group boosted their price objective on Signet Jewelers from $121.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Raymond James Financial started coverage on Signet Jewelers in a research note on Thursday, July 23rd. They set an “outperform” rating and a $105.00 target price for the company. Citigroup reaffirmed a “buy” rating on shares of Signet Jewelers in a report on Tuesday, August 25th. Finally, Zacks Research downgraded Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.62.

Signet Jewelers Price Performance

Shares of SIG opened at $85.06 on Tuesday. The company has a market capitalization of $3.35 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.89 and a beta of 1.11. Signet Jewelers has a one year low of $71.61 and a one year high of $110.20. The company’s fifty day moving average price is $88.05 and its 200 day moving average price is $87.88.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LP acquired a new stake in Signet Jewelers during the second quarter worth $1,583,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Signet Jewelers in the 2nd quarter valued at $1,458,000. California State Teachers Retirement System raised its stake in shares of Signet Jewelers by 8,406.0% in the 2nd quarter. California State Teachers Retirement System now owns 3,854,002 shares of the company’s stock valued at $332,215,000 after buying an additional 3,808,693 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Signet Jewelers in the 2nd quarter valued at $32,000. Finally, AXQ Capital LP bought a new position in shares of Signet Jewelers during the 2nd quarter worth about $390,000.

About Signet Jewelers

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.