Signet Jewelers Limited (NYSE:SIG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Signet Jewelers Limited (NYSE:SIG) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $113.6250.

Several brokerages have recently weighed in on SIG. Raymond James Financial assumed coverage on shares of Signet Jewelers in a research note on Thursday, July 23rd. They issued an “outperform” rating and a $105.00 price objective on the stock. Stephens reiterated an “overweight” rating and issued a $130.00 price target on shares of Signet Jewelers in a research report on Friday, May 29th. Weiss Ratings restated a “hold (c)” rating on shares of Signet Jewelers in a research note on Monday, July 6th. Citigroup reaffirmed a “buy” rating on shares of Signet Jewelers in a report on Tuesday, August 25th. Finally, UBS Group boosted their price target on Signet Jewelers from $121.00 to $122.00 and gave the company a “buy” rating in a report on Monday, August 24th.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds have recently modified their holdings of SIG. Corient Private Wealth LP bought a new position in Signet Jewelers in the 2nd quarter worth $1,583,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Signet Jewelers during the second quarter worth about $1,458,000. California State Teachers Retirement System raised its stake in Signet Jewelers by 8,406.0% during 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 purchasing an additional 3,808,693 shares during the period. Ameritas Advisory Services LLC purchased a new position in Signet Jewelers in the 2nd quarter worth approximately $32,000. Finally, AXQ Capital LP bought a new position in Signet Jewelers in the 2nd quarter worth approximately $390,000.

Signet Jewelers Stock Performance

SIG stock opened at $85.06 on Friday. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 0.89 and a beta of 1.11. The business’s 50-day moving average is $88.08 and its two-hundred day moving average is $87.97. Signet Jewelers has a fifty-two week low of $71.61 and a fifty-two week high of $110.20.

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.