The Goldman Sachs Group Upgrades Signet Jewelers (NYSE:SIG) to “Strong-Buy”

Signet Jewelers (NYSE:SIG) was upgraded by stock analysts at The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Jefferies Financial Group lifted their target price on Signet Jewelers from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Stephens initiated coverage on Signet Jewelers in a research report on Tuesday, November 11th. They set an “overweight” rating and a $150.00 price target on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $96.00 price objective (up previously from $92.00) on shares of Signet Jewelers in a report on Tuesday, December 2nd. Wells Fargo & Company decreased their target price on shares of Signet Jewelers from $100.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Signet Jewelers in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $109.67.

Signet Jewelers Stock Down 1.7%

Shares of SIG opened at $92.43 on Wednesday. Signet Jewelers has a twelve month low of $45.55 and a twelve month high of $110.20. The stock has a market capitalization of $3.76 billion, a P/E ratio of 27.59, a P/E/G ratio of 1.15 and a beta of 1.18. The company has a 50 day moving average of $90.11 and a 200-day moving average of $90.51.

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

Hedge Funds Weigh In On Signet Jewelers

Large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of Signet Jewelers by 87.2% during the 1st quarter. Royal Bank of Canada now owns 17,564 shares of the company’s stock worth $1,020,000 after buying an additional 8,183 shares during the period. Goldman Sachs Group Inc. lifted its position in Signet Jewelers by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company’s stock worth $49,333,000 after acquiring an additional 213,365 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Signet Jewelers by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,573 shares of the company’s stock worth $7,117,000 after acquiring an additional 10,964 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Signet Jewelers by 33.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,845 shares of the company’s stock worth $491,000 after acquiring an additional 1,472 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Signet Jewelers by 23.8% in the second quarter. GAMMA Investing LLC now owns 3,103 shares of the company’s stock valued at $247,000 after purchasing an additional 596 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.