Raymond James Financial Begins Coverage on Signet Jewelers (NYSE:SIG)

Research analysts at Raymond James Financial began coverage on shares of Signet Jewelers (NYSE:SIG) in a report released on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $105.00 price target on the stock. Raymond James Financial’s price target suggests a potential upside of 15.28% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on SIG. Citigroup increased their target price on shares of Signet Jewelers from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. UBS Group decreased their price objective on shares of Signet Jewelers from $126.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Stephens reaffirmed an “overweight” rating and set a $130.00 price objective on shares of Signet Jewelers in a research note on Friday, May 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Signet Jewelers in a report on Monday, July 6th. Finally, Wells Fargo & Company reiterated a “mixed” rating on shares of Signet Jewelers in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Signet Jewelers currently has an average rating of “Moderate Buy” and an average price target of $112.00.

Signet Jewelers Price Performance

Shares of SIG stock opened at $91.08 on Thursday. The stock’s fifty day simple moving average is $85.57 and its 200 day simple moving average is $88.52. Signet Jewelers has a one year low of $71.61 and a one year high of $110.20. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 0.94 and a beta of 1.15.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.18. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.55 billion. Signet Jewelers had a return on equity of 22.54% and a net margin of 4.29%.The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 earnings per share. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. On average, research analysts anticipate that Signet Jewelers will post 10.57 earnings per share for the current year.

Institutional Trading of Signet Jewelers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new stake in Signet Jewelers during the 4th quarter worth about $31,000. Farther Finance Advisors LLC boosted its stake in shares of Signet Jewelers by 48.6% in the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock valued at $31,000 after purchasing an additional 124 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Signet Jewelers by 101.0% during the 1st quarter. Parallel Advisors LLC now owns 394 shares of the company’s stock worth $33,000 after buying an additional 198 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Signet Jewelers during the 4th quarter worth approximately $39,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake 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 during the last quarter.

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.