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

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

SIG has been the topic of a number of other reports. Wells Fargo & Company boosted their price objective on shares of Signet Jewelers from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 9th. Bank of America raised their price objective on shares of Signet Jewelers from $102.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, September 10th. Weiss Ratings raised Signet Jewelers from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. Stephens reissued an “overweight” rating and set a $130.00 price target on shares of Signet Jewelers in a research report on Tuesday, September 8th. Finally, Raymond James Financial boosted their target price on Signet Jewelers from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Signet Jewelers has an average rating of “Moderate Buy” and an average price target of $125.56.

Signet Jewelers Price Performance

NYSE SIG opened at $100.12 on Tuesday. The stock has a market capitalization of $3.84 billion, a PE ratio of 11.53, a PEG ratio of 0.55 and a beta of 1.11. Signet Jewelers has a 1 year low of $71.61 and a 1 year high of $110.20. The business’s 50-day moving average is $91.60 and its 200 day moving average is $88.09.

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

Institutional Investors Weigh In On Signet Jewelers

A number of large investors have recently added to or reduced their stakes in SIG. Dimensional Fund Advisors LP lifted its stake in shares of Signet Jewelers by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,451,725 shares of the company’s stock worth $207,504,000 after purchasing an additional 58,771 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Signet Jewelers by 16.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,015,230 shares of the company’s stock valued at $85,929,000 after purchasing an additional 145,654 shares during the period. Junto Capital Management LP lifted its holdings in Signet Jewelers by 96.3% in the 2nd quarter. Junto Capital Management LP now owns 417,016 shares of the company’s stock worth $35,947,000 after purchasing an additional 204,596 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Signet Jewelers by 7.9% in the 1st quarter. Pacer Advisors Inc. now owns 283,706 shares of the company’s stock worth $24,013,000 after purchasing an additional 20,780 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Signet Jewelers by 35.9% in the 1st quarter. Principal Financial Group Inc. now owns 265,235 shares of the company’s stock worth $22,449,000 after purchasing an additional 70,110 shares during the period.

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.