Signet Jewelers (NYSE:SIG) Stock Rating Lowered by Zacks Research

Signet Jewelers (NYSE:SIG) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on SIG. UBS Group raised their price objective on shares of Signet Jewelers from $121.00 to $122.00 and gave the company a “buy” rating in a report on Monday. Stephens reiterated an “overweight” rating and set a $130.00 target price on shares of Signet Jewelers in a research note on Friday, May 29th. Raymond James Financial started coverage on Signet Jewelers in a report on Thursday, July 23rd. They issued an “outperform” rating and a $105.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Signet Jewelers in a research note on Monday, July 6th. Finally, Wells Fargo & Company reaffirmed a “mixed” rating on shares of Signet Jewelers in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $112.11.

Signet Jewelers Stock Performance

SIG stock opened at $84.49 on Monday. The company’s 50 day moving average price is $88.67 and its 200 day moving average price is $88.51. Signet Jewelers has a fifty-two week low of $71.61 and a fifty-two week high of $110.20. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.87 and a beta of 1.16.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. Signet Jewelers had a net margin of 4.29% and a return on equity of 22.54%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. Equities analysts forecast that Signet Jewelers will post 10.65 EPS for the current fiscal year.

Institutional Trading of Signet Jewelers

Several institutional investors have recently modified their holdings of SIG. California State Teachers Retirement System boosted its holdings in shares of Signet Jewelers by 8,406.0% in the 2nd quarter. California State Teachers Retirement System now owns 3,854,002 shares of the company’s stock valued at $332,215,000 after buying an additional 3,808,693 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Signet Jewelers by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,451,725 shares of the company’s stock worth $207,504,000 after acquiring an additional 58,771 shares in the last quarter. State Street Corp lifted its position in Signet Jewelers by 1.6% in the fourth quarter. State Street Corp now owns 1,688,602 shares of the company’s stock valued at $139,951,000 after acquiring an additional 27,379 shares during the last quarter. LSV Asset Management lifted its position in Signet Jewelers by 90.0% in the fourth quarter. LSV Asset Management now owns 1,077,851 shares of the company’s stock valued at $89,332,000 after acquiring an additional 510,551 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Signet Jewelers by 16.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,015,230 shares of the company’s stock valued at $85,929,000 after acquiring an additional 145,654 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.