Wells Fargo & Company Forecasts Strong Price Appreciation for Signet Jewelers (NYSE:SIG) Stock

Key Points

• Wells Fargo & Company raised its price target for Signet Jewelers from $75.00 to $90.00 while maintaining an "equal weight" rating on the stock.
• Analysts from multiple firms have also increased their price targets for Signet, with UBS Group setting a target at $95.00 and Jefferies Financial Group at $102.00, highlighting bullish sentiment.
• Following a quarterly earnings report that exceeded expectations, Signet Jewelers' stock price has seen an increase of 2.7%, with a current trading price around $90.46.

Signet Jewelers (NYSE:SIG - Get Free Report) had its price target upped by analysts at Wells Fargo & Company from $75.00 to $90.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential downside of 0.51% from the company's previous close.

Other research analysts have also issued reports about the company. UBS Group lifted their target price on Signet Jewelers from $84.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Jefferies Financial Group started coverage on shares of Signet Jewelers in a report on Monday, June 16th. They issued a "buy" rating and a $102.00 target price on the stock. Citigroup upped their price objective on Signet Jewelers from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Bank of America increased their price target on Signet Jewelers from $65.00 to $78.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $92.00 price target on shares of Signet Jewelers in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Signet Jewelers currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Signet Jewelers Stock Up 2.7%

Signet Jewelers stock traded up $2.41 during mid-day trading on Tuesday, hitting $90.46. 2,215,916 shares of the company were exchanged, compared to its average volume of 1,349,391. Signet Jewelers has a 1-year low of $45.55 and a 1-year high of $106.28. The business has a fifty day moving average of $81.82 and a 200 day moving average of $68.28. The company has a market capitalization of $3.72 billion, a PE ratio of 98.70, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its quarterly earnings results on Tuesday, September 2nd. The company reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.40. Signet Jewelers had a return on equity of 22.41% and a net margin of 0.63%.During the same quarter last year, the firm posted $1.25 EPS. The business's quarterly revenue was up 3.0% compared to the same quarter last year. Signet Jewelers has set its FY 2026 guidance at 8.040-9.570 EPS. Q3 2026 guidance at EPS. Research analysts expect that Signet Jewelers will post 8.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Ameritas Advisory Services LLC bought a new position in Signet Jewelers in the 2nd quarter valued at about $29,000. Brooklyn Investment Group increased its stake in 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 acquiring an additional 427 shares during the last quarter. Allworth Financial LP increased its stake in 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 acquiring an additional 445 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Signet Jewelers in the 1st quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Signet Jewelers by 171.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 678 shares of the company's stock valued at $54,000 after purchasing an additional 428 shares during 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.

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