Signet Jewelers Limited (NYSE:SIG) Given Average Recommendation of “Moderate Buy” by Brokerages

Signet Jewelers Limited (NYSE:SIG) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $110.00.

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Signet Jewelers in a report on Wednesday, January 21st. Wells Fargo & Company cut their price target on shares of Signet Jewelers from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, December 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $96.00 price target on shares of Signet Jewelers in a research report on Tuesday, March 10th. The Goldman Sachs Group upgraded Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Signet Jewelers in a research report on Monday, March 9th.

Signet Jewelers Trading Down 1.3%

Shares of SIG stock opened at $82.28 on Friday. Signet Jewelers has a twelve month low of $46.62 and a twelve month high of $110.20. The company’s 50-day moving average price is $92.40 and its 200-day moving average price is $93.59. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 0.89 and a beta of 1.25.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in Signet Jewelers by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,392,954 shares of the company’s stock valued at $198,328,000 after buying an additional 46,789 shares during the last quarter. State Street Corp boosted its stake in Signet Jewelers by 1.6% during the fourth quarter. State Street Corp now owns 1,688,602 shares of the company’s stock worth $139,951,000 after buying an additional 27,379 shares during the period. American Century Companies Inc. increased its position in shares of Signet Jewelers by 12.3% during the third quarter. American Century Companies Inc. now owns 1,592,735 shares of the company’s stock valued at $152,775,000 after acquiring an additional 174,873 shares during the last quarter. LSV Asset Management raised its stake in shares of Signet Jewelers by 90.0% in the 4th quarter. LSV Asset Management now owns 1,077,851 shares of the company’s stock valued at $89,332,000 after acquiring an additional 510,551 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Signet Jewelers by 9.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 944,668 shares of the company’s stock valued at $90,613,000 after acquiring an additional 82,899 shares during the period.

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.