Signet Jewelers (NYSE:SIG) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Signet Jewelers has been upgraded to a "buy" rating by Wall Street Zen, signaling positive investor sentiment following their quarterly earnings report.
• Multiple analysts have raised their price targets for Signet's stock, with UBS Group increasing its target from $84.00 to $95.00, reflecting growing confidence in the company’s performance.
• The stock has shown resilience with a recent quarterly revenue of $1.54 billion, up 2% year-over-year, despite a net margin of just 0.63%.

Signet Jewelers (NYSE:SIG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other analysts have also recently issued reports on the stock. UBS Group boosted their price objective on shares of Signet Jewelers from $84.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Jefferies Financial Group assumed coverage on Signet Jewelers in a report on Monday, June 16th. They issued a "buy" rating and a $102.00 target price on the stock. Bank of America upped their price target on Signet Jewelers from $65.00 to $78.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Telsey Advisory Group raised their price objective on Signet Jewelers from $80.00 to $92.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. Finally, Wells Fargo & Company boosted their target price on Signet Jewelers from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.86.

Signet Jewelers Trading Down 5.0%

Shares of NYSE:SIG opened at $75.13 on Friday. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 81.66, a PEG ratio of 0.71 and a beta of 1.39. The stock's 50-day moving average price is $78.92 and its two-hundred day moving average price is $64.48. Signet Jewelers has a 12-month low of $45.55 and a 12-month high of $106.28.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.17. Signet Jewelers had a net margin of 0.63% and a return on equity of 22.41%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $1.11 EPS. The company's revenue was up 2.0% on a year-over-year basis. As a group, research analysts forecast that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Signet Jewelers

A number of large investors have recently modified their holdings of SIG. Ameritas Advisory Services LLC purchased a new position in Signet Jewelers in the 2nd quarter worth approximately $29,000. Brooklyn Investment Group lifted its position in shares of Signet Jewelers by 42,700.0% during the first quarter. Brooklyn Investment Group now owns 428 shares of the company's stock worth $25,000 after purchasing an additional 427 shares in the last quarter. Allworth Financial LP boosted its stake 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. Headlands Technologies LLC acquired a new stake in Signet Jewelers during the 1st quarter valued at $36,000. Finally, Versant Capital Management Inc grew its holdings in Signet Jewelers by 40.5% during the 1st quarter. Versant Capital Management Inc now owns 773 shares of the company's stock valued at $45,000 after purchasing an additional 223 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.