Raymond James Financial Upgrades Signet Jewelers (NYSE:SIG) to “Moderate Buy”

Signet Jewelers (NYSE:SIG) was upgraded by analysts at Raymond James Financial to a “moderate buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other brokerages also recently commented on SIG. Citigroup lifted their price objective on shares of Signet Jewelers from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. UBS Group dropped their target price on shares of Signet Jewelers from $126.00 to $121.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of Signet Jewelers in a research note on Friday, May 29th. Wells Fargo & Company reiterated a “mixed” rating on shares of Signet Jewelers in a report on Wednesday, June 3rd. Finally, Royal Bank Of Canada upgraded Signet Jewelers to a “hold” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

Signet Jewelers Trading Down 0.8%

NYSE SIG opened at $89.87 on Thursday. The company has a market cap of $3.53 billion, a PE ratio of 12.60, a PEG ratio of 0.95 and a beta of 1.15. Signet Jewelers has a 12 month low of $71.61 and a 12 month high of $110.20. The stock has a 50 day moving average of $85.26 and a 200-day moving average of $88.50.

Signet Jewelers (NYSE:SIG) last released its earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.18. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Signet Jewelers had a net margin of 4.29% and a return on equity of 22.54%. The firm’s revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $1.18 earnings per share. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. As a group, sell-side analysts predict that Signet Jewelers will post 10.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Signet Jewelers

Several large investors have recently modified their holdings of SIG. Richardson Financial Services Inc. acquired a new stake in shares of Signet Jewelers during the 4th quarter worth about $31,000. Farther Finance Advisors LLC raised its holdings in Signet Jewelers by 48.6% in the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock valued at $31,000 after acquiring an additional 124 shares during the period. Parallel Advisors LLC raised its holdings in Signet Jewelers by 101.0% in the 1st quarter. Parallel Advisors LLC now owns 394 shares of the company’s stock valued at $33,000 after acquiring an additional 198 shares during the period. Brown Brothers Harriman & Co. bought a new position in Signet Jewelers in the 4th quarter valued at about $39,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Signet Jewelers by 111.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock worth $52,000 after acquiring an additional 333 shares during the last quarter.

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.