Analysts Set Signet Jewelers Limited (NYSE:SIG) Target Price at $110.00

Shares of Signet Jewelers Limited (NYSE:SIG) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $110.00.

SIG has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Signet Jewelers from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Research downgraded Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Wells Fargo & Company lowered 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. UBS Group upped their price target on shares of Signet Jewelers from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Signet Jewelers in a research note on Monday, March 9th.

Hedge Funds Weigh In On Signet Jewelers

A number of institutional investors have recently modified their holdings of SIG. Salomon & Ludwin LLC bought a new stake in shares of Signet Jewelers during the third quarter valued at approximately $31,000. Richardson Financial Services Inc. purchased a new position in Signet Jewelers during the 4th quarter worth $31,000. Farther Finance Advisors LLC increased its holdings in Signet Jewelers by 48.6% during the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock worth $31,000 after purchasing an additional 124 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Signet Jewelers during the 4th quarter valued at $39,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Signet Jewelers by 111.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock valued at $52,000 after purchasing an additional 333 shares in the last quarter.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $84.87 on Friday. The firm has a market capitalization of $3.45 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 0.91 and a beta of 1.25. The business has a 50 day simple moving average of $92.13 and a two-hundred day simple moving average of $93.53. Signet Jewelers has a 1 year low of $47.63 and a 1 year high of $110.20.

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.