Signet Jewelers (NYSE:SIG) Upgraded by Raymond James Financial to Moderate Buy Rating

Key Points

• Raymond James Financial upgraded Signet Jewelers to a moderate buy, adding to a generally positive analyst backdrop for the stock.
• Other firms remain mixed: UBS and Citigroup have buy ratings, while RBC moved to hold and Weiss reaffirmed hold. Overall, analysts rate SIG as a Moderate Buy with an average target price of $112.
• Signet recently posted better-than-expected quarterly earnings of $1.56 per share versus $1.38 expected, with revenue of $1.55 billion essentially matching estimates. The company also guided FY 2027 EPS to 9.2 to 11.0.

Signet Jewelers (NYSE:SIG - Get Free Report) was upgraded by investment analysts at Raymond James Financial to a "moderate buy" rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research firms have also recently weighed in on SIG. UBS Group reduced their price target on shares of Signet Jewelers from $126.00 to $121.00 and set a "buy" rating for the company in a report on Friday, May 22nd. Stephens restated an "overweight" rating and set a $130.00 price objective on shares of Signet Jewelers in a report on Friday, May 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Signet Jewelers in a research report on Monday, July 6th. Royal Bank Of Canada raised shares of Signet Jewelers to a "hold" rating in a research note on Monday, March 30th. Finally, Citigroup increased their target price on Signet Jewelers from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $112.00.

Signet Jewelers Price Performance

NYSE SIG opened at $89.87 on Thursday. Signet Jewelers has a one year low of $71.61 and a one year high of $110.20. The firm has a market cap of $3.53 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.95 and a beta of 1.15. The stock's 50-day moving average is $85.26 and its 200-day moving average is $88.50.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.18. Signet Jewelers had a return on equity of 22.54% and a net margin of 4.29%.The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the firm earned $1.18 EPS. Signet Jewelers's quarterly revenue 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 analysts anticipate that Signet Jewelers will post 10.57 EPS for the current year.

Institutional Trading of 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 boosted its holdings in Signet Jewelers by 87.2% during the first quarter. Royal Bank of Canada now owns 17,564 shares of the company's stock worth $1,020,000 after purchasing an additional 8,183 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Signet Jewelers by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company's stock worth $49,333,000 after buying an additional 213,365 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Signet Jewelers by 9.8% during 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 buying an additional 10,964 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Signet Jewelers by 55.4% during the 2nd quarter. Prudential Financial Inc. now owns 5,935 shares of the company's stock worth $472,000 after buying an additional 2,116 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Signet Jewelers by 171.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 678 shares of the company's stock worth $54,000 after buying an additional 428 shares during the last quarter.

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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