Signet Jewelers Ltd. (NYSE:SIG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Signet Jewelers Ltd. is engaged in retailing of jewelry, watches and associated services. The company operates primarily in the United States, the United Kingdom, the Republic of Ireland and the Channel Islands. Signet Jewelers Ltd., formerly known as Signet Group PLC, is based in Hamilton, Bermuda. “

Other equities analysts have also recently issued reports about the stock. Johnson Rice cut shares of Signet Jewelers from a “buy” rating to an “accumulate” rating in a research note on Monday, August 29th. Deutsche Bank AG lowered their price target on shares of Signet Jewelers from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, August 23rd. Nomura reaffirmed a “buy” rating and set a $104.00 price target on shares of Signet Jewelers in a research note on Monday, August 29th. Vetr cut shares of Signet Jewelers from a “strong-buy” rating to a “buy” rating and set a $91.00 price target on the stock. in a research note on Wednesday, August 31st. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $110.00 price target on shares of Signet Jewelers in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $107.19.

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

Shares of Signet Jewelers (NYSE:SIG) opened at 92.24 on Friday. The firm’s 50 day moving average is $84.61 and its 200-day moving average is $86.33. Signet Jewelers has a 12 month low of $72.65 and a 12 month high of $135.59. The firm has a market capitalization of $6.97 billion, a PE ratio of 14.06 and a beta of 1.17.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.10. Signet Jewelers had a net margin of 7.93% and a return on equity of 19.67%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts expect that Signet Jewelers will post $6.98 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIG. Pacer Advisors Inc. raised its position in Signet Jewelers by 6.8% in the second quarter. Pacer Advisors Inc. now owns 1,561 shares of the company’s stock worth $129,000 after buying an additional 100 shares during the period. SRB Corp raised its position in Signet Jewelers by 27.0% in the third quarter. SRB Corp now owns 1,654 shares of the company’s stock worth $123,000 after buying an additional 352 shares during the period. MU Investments Co. Ltd. purchased a new position in Signet Jewelers during the second quarter worth about $148,000. Virtus Investment Advisers Inc. purchased a new position in Signet Jewelers during the third quarter worth about $146,000. Finally, Toronto Dominion Bank raised its position in Signet Jewelers by 429.6% in the third quarter. Toronto Dominion Bank now owns 2,198 shares of the company’s stock worth $164,000 after buying an additional 1,783 shares during the period. Institutional investors own 98.92% of the company’s stock.

Signet Jewelers Company Profile

Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s segments are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment.

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