Wall Street Zen Upgrades Signet Jewelers (NYSE:SIG) to Strong-Buy

Signet Jewelers (NYSE:SIG) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other research firms have also commented on SIG. Wells Fargo & Company reduced their price target on shares of Signet Jewelers from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, December 3rd. UBS Group boosted their price objective on shares of Signet Jewelers from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Jefferies Financial Group upped their target price on Signet Jewelers from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Citigroup lifted their price target on Signet Jewelers from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $96.00 price target (up from $92.00) on shares of Signet Jewelers in a research report on Tuesday, December 2nd. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Signet Jewelers currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

Signet Jewelers Trading Down 2.3%

Shares of SIG stock opened at $85.04 on Friday. Signet Jewelers has a twelve month low of $45.55 and a twelve month high of $110.20. The stock has a fifty day simple moving average of $94.95 and a two-hundred day simple moving average of $89.58. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 1.04 and a beta of 1.12.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.16 by $0.47. Signet Jewelers had a return on equity of 24.44% and a net margin of 2.13%.The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. Signet Jewelers has set its FY 2026 guidance at 8.430-9.59 EPS. Research analysts predict that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Signet Jewelers

Several hedge funds have recently modified their holdings of the stock. CIBC Bancorp USA Inc. purchased a new position in shares of Signet Jewelers in the 3rd quarter valued at approximately $410,000. Danske Bank A S acquired a new position in Signet Jewelers during the 3rd quarter valued at approximately $879,000. Castleark Management LLC raised its holdings in shares of Signet Jewelers by 3.9% in the third quarter. Castleark Management LLC now owns 86,758 shares of the company’s stock worth $8,322,000 after buying an additional 3,218 shares during the last quarter. Verition Fund Management LLC raised its holdings in shares of Signet Jewelers by 78.0% in the third quarter. Verition Fund Management LLC now owns 153,431 shares of the company’s stock worth $14,717,000 after buying an additional 67,230 shares during the last quarter. Finally, Summit Street Capital Management LLC acquired a new stake in shares of Signet Jewelers during the third quarter worth $25,328,000.

Signet Jewelers Company Profile

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.