Signet Jewelers (NYSE:SIG) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Signet Jewelers from “hold” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with a $125.56 target price.
• Recent analysts raised their price targets, including Citigroup to $140, UBS to $136, and Raymond James to $120; Signet shares opened at $100.12.
• Signet exceeded quarterly earnings expectations, reporting $2.19 in EPS versus the $1.69 consensus, although revenue of $1.53 billion declined 0.5% year over year.

Signet Jewelers (NYSE:SIG - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday, Zacks reports.

Several other equities research analysts also recently commented on the stock. Raymond James Financial increased their target price on shares of Signet Jewelers from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, September 10th. Bank of America upped their target price on Signet Jewelers from $102.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, September 10th. UBS Group raised their price objective on shares of Signet Jewelers from $122.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. Weiss Ratings raised Signet Jewelers from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, September 10th. Finally, Citigroup upped their price objective on Signet Jewelers from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $125.56.

Signet Jewelers Stock Performance

Shares of SIG stock opened at $100.12 on Tuesday. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.55 and a beta of 1.11. Signet Jewelers has a 52-week low of $71.61 and a 52-week high of $110.20. The company has a 50-day simple moving average of $91.60 and a two-hundred day simple moving average of $88.09.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its earnings results on Wednesday, September 9th. The company reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.50. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. Signet Jewelers had a return on equity of 23.28% and a net margin of 5.19%.The company's revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. On average, sell-side analysts forecast that Signet Jewelers will post 11.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SIG. Junto Capital Management LP lifted its stake in shares of Signet Jewelers by 96.3% in the 2nd quarter. Junto Capital Management LP now owns 417,016 shares of the company's stock valued at $35,947,000 after acquiring an additional 204,596 shares during the last quarter. Tidal Investments LLC boosted its holdings in Signet Jewelers by 41.4% during the 2nd quarter. Tidal Investments LLC now owns 13,434 shares of the company's stock valued at $1,158,000 after acquiring an additional 3,933 shares during the period. Engineers Gate Manager LP grew its position in Signet Jewelers by 125.6% during the 2nd quarter. Engineers Gate Manager LP now owns 28,610 shares of the company's stock worth $2,466,000 after acquiring an additional 15,926 shares during the last quarter. Arizona State Retirement System grew its position in Signet Jewelers by 7.2% during the 2nd quarter. Arizona State Retirement System now owns 10,779 shares of the company's stock worth $929,000 after acquiring an additional 723 shares during the last quarter. Finally, Corient Private Wealth LP purchased a new position in Signet Jewelers in the 2nd quarter worth approximately $1,583,000.

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.

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