Signet Jewelers (NYSE:SIG) Stock Rating Upgraded by Royal Bank Of Canada

Signet Jewelers (NYSE:SIG) was upgraded by analysts at Royal Bank Of Canada to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on SIG. Weiss Ratings reiterated a “hold (c)” rating on shares of Signet Jewelers in a research report on Wednesday, January 21st. The Goldman Sachs Group upgraded shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st. UBS Group boosted their target price on shares of Signet Jewelers from $118.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Telsey Advisory Group reiterated a “market perform” rating and set a $96.00 target price on shares of Signet Jewelers in a research report on Thursday, March 19th. Finally, Zacks Research cut shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.00.

Signet Jewelers Price Performance

SIG stock opened at $84.85 on Monday. The business has a fifty day moving average price of $91.26 and a 200 day moving average price of $93.20. Signet Jewelers has a fifty-two week low of $49.99 and a fifty-two week high of $110.20. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 0.94 and a beta of 1.25.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Thursday, March 19th. The company reported $6.25 EPS for the quarter, topping analysts’ consensus estimates of $6.11 by $0.14. The company had revenue of ($4,468.50) million for the quarter, compared to analyst estimates of $2.33 billion. Signet Jewelers had a return on equity of 22.22% and a net margin of 4.32%.The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.62 earnings per share. On average, equities analysts expect that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Institutional Trading of Signet Jewelers

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIG. Salomon & Ludwin LLC acquired a new position in Signet Jewelers during the 3rd quarter valued at about $31,000. Richardson Financial Services Inc. acquired a new stake in shares of Signet Jewelers during the 4th quarter worth approximately $31,000. Farther Finance Advisors LLC raised its stake in shares of Signet Jewelers by 48.6% during the fourth quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock worth $31,000 after buying an additional 124 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Signet Jewelers during the fourth quarter worth approximately $39,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Signet Jewelers by 111.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock valued at $52,000 after buying an additional 333 shares during the period.

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.