Signet Jewelers (NYSE:SIG) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Signet Jewelers from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with a $112.11 price target.
• Signet reported quarterly adjusted earnings of $1.56 per share, beating estimates of $1.38, while revenue reached $1.55 billion and rose 0.8% year over year.
• Shares opened at $84.49, up 1.2%, with a market capitalization of approximately $3.32 billion and a recent 12-month trading range of $71.61 to $110.20.

Signet Jewelers (NYSE:SIG - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on SIG. Wells Fargo & Company reaffirmed a "mixed" rating on shares of Signet Jewelers in a research report on Wednesday, June 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Signet Jewelers in a research report on Monday, July 6th. Stephens restated an "overweight" rating and set a $130.00 price target on shares of Signet Jewelers in a research note on Friday, May 29th. UBS Group raised their price target on Signet Jewelers from $121.00 to $122.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Citigroup reaffirmed a "buy" rating on shares of Signet Jewelers in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.11.

Signet Jewelers Trading Up 1.2%

Shares of SIG opened at $84.49 on Monday. The firm has a market cap of $3.32 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 0.87 and a beta of 1.16. Signet Jewelers has a 12-month low of $71.61 and a 12-month high of $110.20. The company's 50-day moving average price is $88.67 and its 200 day moving average price is $88.51.

Signet Jewelers (NYSE:SIG - Get Free Report) last posted its earnings results on Tuesday, June 2nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.18. Signet Jewelers had a net margin of 4.29% and a return on equity of 22.54%. The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. Signet Jewelers's revenue for the quarter was up .8% compared to the same quarter last year. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. Equities research analysts forecast that Signet Jewelers will post 10.65 earnings per share for the current year.

Institutional Investors Weigh In On Signet Jewelers

Several large investors have recently added to or reduced their stakes in SIG. Farther Finance Advisors LLC lifted its holdings in Signet Jewelers by 48.6% during the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company's stock worth $31,000 after buying an additional 124 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Signet Jewelers in the second quarter worth $32,000. Parallel Advisors LLC grew its stake in shares of Signet Jewelers by 101.0% in the first quarter. Parallel Advisors LLC now owns 394 shares of the company's stock worth $33,000 after acquiring an additional 198 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Signet Jewelers during the fourth quarter worth $39,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of 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 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.

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