Signet Jewelers (NYSE:SIG) Stock Rating Upgraded by Zacks Research

Signet Jewelers (NYSE:SIG) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also commented on SIG. The Goldman Sachs Group assumed coverage on Signet Jewelers in a research note on Thursday, December 11th. They issued a “neutral” rating and a $96.00 price target on the stock. Jefferies Financial Group lifted their price target on shares of Signet Jewelers from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Stephens assumed coverage on shares of Signet Jewelers in a research report on Tuesday, November 11th. They set an “overweight” rating and a $150.00 price objective for the company. Wells Fargo & Company decreased their price target on Signet Jewelers from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Signet Jewelers in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Signet Jewelers currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Signet Jewelers Price Performance

Shares of SIG stock opened at $93.40 on Monday. The company has a market capitalization of $3.80 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The firm’s 50-day moving average is $90.55 and its two-hundred day moving average is $90.47. Signet Jewelers has a 12 month low of $45.55 and a 12 month high of $110.20.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.47. Signet Jewelers had a net margin of 2.13% and a return on equity of 24.44%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm earned $0.25 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. Signet Jewelers has set its FY 2026 guidance at 8.430-9.59 EPS. Sell-side analysts forecast that Signet Jewelers will post 8.73 EPS for the current year.

Hedge Funds Weigh In On Signet Jewelers

Several hedge funds and other institutional investors have recently made changes to their positions in SIG. Hood River Capital Management LLC acquired a new position in Signet Jewelers in the second quarter valued at approximately $56,537,000. Arrowstreet Capital Limited Partnership raised its holdings in Signet Jewelers by 321.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 861,769 shares of the company’s stock worth $68,554,000 after purchasing an additional 657,444 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of Signet Jewelers during the 2nd quarter worth approximately $50,342,000. Bowen Hanes & Co. Inc. acquired a new position in shares of Signet Jewelers in the 3rd quarter valued at $47,837,000. Finally, LSV Asset Management raised its stake in Signet Jewelers by 263.4% during the 3rd quarter. LSV Asset Management now owns 567,300 shares of the company’s stock worth $54,415,000 after acquiring an additional 411,200 shares in the last quarter.

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.