Signet Jewelers Limited (NYSE:SIG) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Signet Jewelers has a “Moderate Buy” consensus rating from 11 analysts: five rate it a hold, five a buy, and one a strong buy. The average 12-month price target is $113.63.
• SIG opened at $85.06, with a market capitalization of approximately $3.35 billion and a 12-month trading range of $71.61 to $110.20.
• Several institutional investors increased their holdings, including Goldman Sachs, which raised its stake by 33.5%, and Royal Bank of Canada, which increased its position by 87.2%.

Shares of Signet Jewelers Limited (NYSE:SIG - Get Free Report) have been given an average rating of "Moderate Buy" by the eleven ratings firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $113.6250.

Several analysts have issued reports on SIG shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Signet Jewelers in a research note on Monday, July 6th. Stephens restated an "overweight" rating and issued a $130.00 price objective on shares of Signet Jewelers in a report on Friday, May 29th. UBS Group upped their price objective on shares of Signet Jewelers from $121.00 to $122.00 and gave the company a "buy" rating in a research note on Monday, August 24th. Wells Fargo & Company reaffirmed a "mixed" rating on shares of Signet Jewelers in a report on Wednesday, June 3rd. Finally, Citigroup reiterated a "buy" rating on shares of Signet Jewelers in a research report on Tuesday, August 25th.

Signet Jewelers Trading Up 3.7%

SIG opened at $85.06 on Friday. The stock has a 50-day moving average price of $88.08 and a 200-day moving average price of $87.97. Signet Jewelers has a 12-month low of $71.61 and a 12-month high of $110.20. The stock has a market capitalization of $3.35 billion, a P/E ratio of 11.93, a PEG ratio of 0.89 and a beta of 1.11.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in Signet Jewelers by 87.2% during the 1st quarter. Royal Bank of Canada now owns 17,564 shares of the company's stock valued at $1,020,000 after purchasing an additional 8,183 shares during the period. Goldman Sachs Group Inc. grew its stake in Signet Jewelers by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company's stock worth $49,333,000 after purchasing an additional 213,365 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Signet Jewelers by 9.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,573 shares of the company's stock worth $7,117,000 after acquiring an additional 10,964 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Signet Jewelers by 55.4% during the second quarter. Prudential Financial Inc. now owns 5,935 shares of the company's stock valued at $472,000 after purchasing an additional 2,116 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Signet Jewelers by 171.2% during the second quarter. EverSource Wealth Advisors LLC now owns 678 shares of the company's stock valued at $54,000 after buying an additional 428 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.

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