Signet Jewelers (NYSE:SIG) Stock Rating Upgraded by Royal Bank Of Canada

Signet Jewelers (NYSE:SIG) was upgraded by equities researchers at Royal Bank Of Canada to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts have also commented on SIG. Wells Fargo & Company boosted their price objective on shares of Signet Jewelers from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, March 20th. Zacks Research downgraded shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Wall Street Zen cut shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research report on Sunday, March 22nd. The Goldman Sachs Group raised shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Signet Jewelers in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Signet Jewelers presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.00.

Signet Jewelers Price Performance

NYSE SIG opened at $84.85 on Monday. The business has a 50 day moving average price of $91.26 and a 200 day moving average price of $93.20. The company has a market capitalization of $3.40 billion, a P/E ratio of 11.90, a PEG ratio of 0.94 and a beta of 1.25. Signet Jewelers has a 1-year low of $49.99 and a 1-year high of $110.20.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, March 19th. The company reported $6.25 EPS for the quarter, topping analysts’ consensus estimates of $6.11 by $0.14. The company had revenue of ($4,468.50) million for the quarter, compared to the consensus estimate of $2.33 billion. Signet Jewelers had a return on equity of 22.22% and a net margin of 4.32%.Signet Jewelers’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.62 earnings per share. On average, research analysts expect that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently modified their holdings of SIG. American Century Companies Inc. boosted its stake in Signet Jewelers by 12.3% in the 3rd quarter. American Century Companies Inc. now owns 1,592,735 shares of the company’s stock worth $152,775,000 after buying an additional 174,873 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Signet Jewelers by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,346,165 shares of the company’s stock valued at $225,046,000 after acquiring an additional 43,925 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Signet Jewelers by 212.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 500,589 shares of the company’s stock worth $48,016,000 after acquiring an additional 340,228 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in shares of Signet Jewelers by 163.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 34,919 shares of the company’s stock worth $3,349,000 after acquiring an additional 21,660 shares during the period. Finally, Bowen Hanes & Co. Inc. acquired a new stake in shares of Signet Jewelers in the third quarter worth approximately $47,837,000.

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.