Signet Jewelers (NYSE:SIG) Upgraded to Strong-Buy at Zacks Research

Signet Jewelers (NYSE:SIG) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other research firms have also commented on SIG. Citigroup upped their price target on Signet Jewelers from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Stephens reissued an “overweight” rating and set a $130.00 target price on shares of Signet Jewelers in a research note on Tuesday, September 8th. The Goldman Sachs Group upped their target price on Signet Jewelers from $96.00 to $109.00 and gave the company a “neutral” rating in a report on Thursday, September 10th. Weiss Ratings upgraded shares of Signet Jewelers from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, September 10th. Finally, Raymond James Financial boosted their price objective on shares of Signet Jewelers from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.56.

Signet Jewelers Stock Down 0.3%

Shares of SIG opened at $100.12 on Tuesday. The stock has a market capitalization of $3.84 billion, a P/E ratio of 11.53, a PEG ratio of 0.55 and a beta of 1.11. The firm has a fifty day simple moving average of $91.60 and a two-hundred day simple moving average of $88.09. Signet Jewelers has a twelve month low of $71.61 and a twelve month high of $110.20.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.69 by $0.50. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. Signet Jewelers had a net margin of 5.19% and a return on equity of 23.28%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 earnings per share. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. Sell-side analysts expect that Signet Jewelers will post 11.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its stake in Signet Jewelers by 101.0% during the first quarter. Parallel Advisors LLC now owns 394 shares of the company’s stock valued at $33,000 after buying an additional 198 shares during the last quarter. ProShare Advisors LLC grew its holdings in Signet Jewelers by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 7,804 shares of the company’s stock valued at $647,000 after buying an additional 233 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Signet Jewelers in the 2nd quarter worth approximately $32,000. Convergence Investment Partners LLC increased its stake in Signet Jewelers by 2.4% in the 1st quarter. Convergence Investment Partners LLC now owns 15,840 shares of the company’s stock worth $1,341,000 after acquiring an additional 377 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Signet Jewelers by 5.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 12,700 shares of the company’s stock worth $1,095,000 after acquiring an additional 600 shares in the last quarter.

Signet Jewelers Company Profile

Signet Jewelers Limited (NYSE:SIG) is a specialty jewelry retailer serving customers primarily in the United States, Canada and the United Kingdom. The company sells diamond and other fine jewelry, engagement and wedding rings, fashion jewelry, watches, and related accessories through stores and e-commerce platforms.

Signet operates a portfolio of retail banners that includes Kay Jewelers, Zales, Jared, Diamonds Direct, Banter by Piercing Pagoda and Blue Nile. Its offerings span accessible fashion jewelry and personalized products as well as bridal jewelry and higher-end diamond merchandise.