Signet Jewelers (NYSE:SIG) Upgraded at Royal Bank Of Canada

Signet Jewelers (NYSE:SIG) was upgraded by stock analysts at Royal Bank Of Canada to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company increased their price target on Signet Jewelers from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Friday, March 20th. UBS Group upped their price objective on shares of Signet Jewelers from $118.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Zacks Research cut shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. The Goldman Sachs Group raised shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research note on Sunday, March 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Signet Jewelers has a consensus rating of “Moderate Buy” and a consensus price target of $112.00.

Signet Jewelers Stock Up 4.7%

SIG opened at $84.85 on Monday. Signet Jewelers has a 52 week low of $49.99 and a 52 week high of $110.20. The business has a 50 day moving average price of $91.26 and a two-hundred day moving average price of $93.20. The company has a market cap of $3.40 billion, a PE ratio of 11.90, a P/E/G ratio of 0.94 and a beta of 1.25.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Thursday, March 19th. The company reported $6.25 earnings per share for the quarter, beating the consensus estimate of $6.11 by $0.14. The company had revenue of ($4,468.50) million for the quarter, compared to the consensus estimate of $2.33 billion. Signet Jewelers had a return on equity of 22.22% and a net margin of 4.32%.The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $6.62 EPS. As a group, sell-side analysts expect that Signet Jewelers will post 8.73 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. Hsbc Holdings PLC acquired a new position in shares of Signet Jewelers during the 4th quarter worth $231,000. Pacer Advisors Inc. lifted its stake in shares of Signet Jewelers by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 262,926 shares of the company’s stock valued at $21,791,000 after purchasing an additional 37,238 shares during the period. Invesco Ltd. boosted its holdings in Signet Jewelers by 18.3% during the fourth quarter. Invesco Ltd. now owns 238,776 shares of the company’s stock worth $19,790,000 after buying an additional 36,927 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Signet Jewelers by 21.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,548 shares of the company’s stock worth $211,000 after buying an additional 445 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Signet Jewelers during the fourth quarter worth about $221,000.

Signet Jewelers Company Profile

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.