Signet Jewelers (NYSE:SIG) Price Target Raised to $92.00 at Telsey Advisory Group

Key Points

• Telsey Advisory Group has raised its price target for Signet Jewelers from $80.00 to $92.00, indicating a potential upside of 9.54% based on the stock's previous close.
• Signet Jewelers reported earnings of $1.18 per share, surpassing estimates of $1.01, along with a revenue of $1.54 billion, slightly above the expected $1.52 billion.
• The company's stock currently holds a consensus rating of "Moderate Buy" with a target price average of $88.86 among analysts, indicating overall positive sentiment towards its performance.

Signet Jewelers (NYSE:SIG - Get Free Report) had its price objective lifted by analysts at Telsey Advisory Group from $80.00 to $92.00 in a report issued on Friday, Marketbeat.com reports. The brokerage currently has a "market perform" rating on the stock. Telsey Advisory Group's price target would indicate a potential upside of 9.54% from the company's previous close.

SIG has been the topic of several other research reports. Bank of America raised their price objective on Signet Jewelers from $65.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. CL King began coverage on Signet Jewelers in a report on Monday, May 5th. They set a "buy" rating and a $80.00 price objective on the stock. Wells Fargo & Company increased their target price on Signet Jewelers from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. UBS Group lifted their target price on Signet Jewelers from $84.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Jefferies Financial Group began coverage on Signet Jewelers in a research note on Monday, June 16th. They issued a "buy" rating and a $102.00 price target for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.86.

Signet Jewelers Stock Performance

NYSE:SIG opened at $83.99 on Friday. Signet Jewelers has a 1 year low of $45.55 and a 1 year high of $106.28. The stock has a market cap of $3.46 billion, a P/E ratio of 91.29, a P/E/G ratio of 0.78 and a beta of 1.39. The stock has a 50-day simple moving average of $76.94 and a 200-day simple moving average of $64.15.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.17. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Signet Jewelers had a return on equity of 22.41% and a net margin of 0.63%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 earnings per share. On average, equities research analysts predict that Signet Jewelers will post 8.73 EPS for the current year.

Institutional Investors Weigh In On Signet Jewelers

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Signet Jewelers in the 4th quarter valued at $40,989,000. Bryce Point Capital LLC bought a new stake in Signet Jewelers in the 4th quarter valued at $1,530,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Signet Jewelers in the 1st quarter valued at $2,112,000. Anomaly Capital Management LP lifted its position in Signet Jewelers by 862.5% in the 4th quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company's stock valued at $142,253,000 after acquiring an additional 1,579,410 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Signet Jewelers during the 1st quarter worth about $254,000.

Signet Jewelers Company Profile

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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