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

Shares of Signet Jewelers Limited (NYSE:SIG) have earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $110.00.

A number of brokerages have recently weighed in on SIG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Signet Jewelers in a research note on Wednesday, January 21st. The Goldman Sachs Group upgraded Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. UBS Group lifted their target price on Signet Jewelers from $115.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group reiterated a “buy” rating on shares of Signet Jewelers in a research note on Monday, March 9th. Finally, Wall Street Zen raised shares of Signet Jewelers from a “buy” rating to a “strong-buy” rating in a research report on Saturday.

Institutional Investors Weigh In On Signet Jewelers

Large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in Signet Jewelers by 16.5% in the 4th quarter. Pacer Advisors Inc. now owns 262,926 shares of the company’s stock valued at $21,791,000 after buying an additional 37,238 shares during the period. Invesco Ltd. increased its position in shares of Signet Jewelers by 18.3% during the fourth quarter. Invesco Ltd. now owns 238,776 shares of the company’s stock worth $19,790,000 after acquiring an additional 36,927 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Signet Jewelers by 21.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,548 shares of the company’s stock worth $211,000 after acquiring an additional 445 shares during the period. XTX Topco Ltd acquired a new stake in shares of Signet Jewelers in the fourth quarter valued at $221,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Signet Jewelers in the fourth quarter valued at $17,923,000.

Signet Jewelers Stock Down 1.3%

Shares of NYSE SIG opened at $82.28 on Friday. The business’s 50 day moving average is $92.40 and its two-hundred day moving average is $93.59. Signet Jewelers has a 52-week low of $46.62 and a 52-week high of $110.20. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 0.89 and a beta of 1.25.

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.