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

Signet Jewelers (NYSE:SIG) was upgraded by research 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 brokerages also recently commented on SIG. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $96.00 price target on shares of Signet Jewelers in a research report on Tuesday. Jefferies Financial Group restated a “buy” rating on shares of Signet Jewelers in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Signet Jewelers in a research report on Wednesday, January 21st. Zacks Research cut shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, UBS Group increased their price target on shares of Signet Jewelers from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Signet Jewelers has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Signet Jewelers Stock Performance

Signet Jewelers stock opened at $82.28 on Friday. The business’s 50-day simple moving average is $92.40 and its 200-day simple moving average is $93.55. The firm has a market capitalization of $3.35 billion, a PE ratio of 24.56, a PEG ratio of 0.90 and a beta of 1.25. Signet Jewelers has a 52 week low of $46.62 and a 52 week high of $110.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC bought a new position in Signet Jewelers during the 3rd quarter valued at about $31,000. Richardson Financial Services Inc. bought a new stake in Signet Jewelers during the fourth quarter worth about $31,000. Farther Finance Advisors LLC grew its stake in 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. acquired a new stake in shares of Signet Jewelers during the fourth quarter worth approximately $39,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Signet Jewelers by 111.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock worth $52,000 after buying an additional 333 shares in 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.