Signet Jewelers (NYSE:SIG) Price Target Raised to $100.00

Key Points

• Bank of America raised its price target for Signet Jewelers from $90.00 to $100.00, indicating a potential upside of 10.87% from its current price, while maintaining a "neutral" rating on the stock.
• Despite the price target increase, several analysts have expressed cautious sentiments, with reports from Wells Fargo and Wall Street Zen suggesting a "cautious" or "hold" rating, respectively.
• Signet Jewelers reported strong earnings, beating expectations with a Q2 EPS of $1.61 and revenue of $1.54 billion, reflecting a year-over-year revenue increase of 3%.

Signet Jewelers (NYSE:SIG - Get Free Report) had its price target raised by investment analysts at Bank of America from $90.00 to $100.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Bank of America's price target would suggest a potential upside of 10.87% from the stock's current price.

Other analysts have also recently issued reports about the company. Wells Fargo & Company reissued a "cautious" rating on shares of Signet Jewelers in a research report on Tuesday. Wall Street Zen cut Signet Jewelers from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Citigroup increased their price objective on Signet Jewelers from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. UBS Group increased their price objective on Signet Jewelers from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $92.00 price objective on shares of Signet Jewelers in a research report on Tuesday. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $96.29.

Signet Jewelers Trading Down 0.3%

Shares of NYSE SIG traded down $0.27 during trading hours on Wednesday, reaching $90.19. The stock had a trading volume of 402,091 shares, compared to its average volume of 1,349,558. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 98.12, a PEG ratio of 0.79 and a beta of 1.18. Signet Jewelers has a fifty-two week low of $45.55 and a fifty-two week high of $106.28. The firm has a 50-day moving average of $82.06 and a 200-day moving average of $68.43.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its earnings results on Tuesday, September 2nd. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.40. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.50 billion. Signet Jewelers had a return on equity of 22.41% and a net margin of 0.63%.The business's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Signet Jewelers has set its FY 2026 guidance at 8.040-9.570 EPS. Q3 2026 guidance at EPS. On average, equities analysts predict that Signet Jewelers will post 8.73 EPS for the current year.

Hedge Funds Weigh In On Signet Jewelers

Several hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group grew its position in shares of Signet Jewelers by 42,700.0% in the first quarter. Brooklyn Investment Group now owns 428 shares of the company's stock valued at $25,000 after purchasing an additional 427 shares during the period. Allworth Financial LP grew its position in shares of Signet Jewelers by 946.8% in the first quarter. Allworth Financial LP now owns 492 shares of the company's stock valued at $29,000 after purchasing an additional 445 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Signet Jewelers in the second quarter valued at $29,000. Headlands Technologies LLC purchased a new stake in shares of Signet Jewelers in the first quarter valued at $36,000. Finally, Versant Capital Management Inc grew its position in shares of Signet Jewelers by 40.5% in the first quarter. Versant Capital Management Inc now owns 773 shares of the company's stock valued at $45,000 after purchasing an additional 223 shares during the period.

About Signet Jewelers

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.

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