Signet Jewelers (NYSE:SIG) Hits New 52-Week High – Should You Buy?

Signet Jewelers Limited (NYSE:SIG)’s share price hit a new 52-week high during trading on Wednesday. The company traded as high as $126.10 and last traded at $125.1790, with a volume of 33,933 shares traded. The stock had previously closed at $118.90.

Analyst Ratings Changes

SIG has been the topic of several analyst reports. Telsey Advisory Group raised their target price on shares of Signet Jewelers from $96.00 to $105.00 and gave the company a “market perform” rating in a report on Thursday, September 10th. Raymond James Financial lifted their price target on shares of Signet Jewelers from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, September 10th. Zacks Research upgraded shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 22nd. UBS Group increased their price objective on shares of Signet Jewelers from $122.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Finally, Citigroup raised their price objective on shares of Signet Jewelers from $120.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.56.

Signet Jewelers Price Performance

The company’s 50 day simple moving average is $102.61 and its 200 day simple moving average is $92.41. The company has a market capitalization of $4.82 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.66 and a beta of 1.05.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.50. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. Signet Jewelers had a net margin of 5.19% and a return on equity of 23.28%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. On average, equities analysts forecast that Signet Jewelers Limited will post 11.70 EPS for the current year.

Signet Jewelers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 23rd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, October 23rd. Signet Jewelers’s dividend payout ratio (DPR) is currently 16.13%.

Insiders Place Their Bets

In related news, insider Stash Ptak sold 405 shares of the business’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $120.00, for a total value of $48,600.00. Following the completion of the sale, the insider directly owned 20,428 shares of the company’s stock, valued at $2,451,360. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of Signet Jewelers

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Signet Jewelers by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,451,725 shares of the company’s stock valued at $207,504,000 after purchasing an additional 58,771 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Signet Jewelers by 16.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,015,230 shares of the company’s stock valued at $85,929,000 after purchasing an additional 145,654 shares during the period. Junto Capital Management LP boosted its position in shares of Signet Jewelers by 96.3% in the 2nd quarter. Junto Capital Management LP now owns 417,016 shares of the company’s stock valued at $35,947,000 after purchasing an additional 204,596 shares during the period. Pacer Advisors Inc. boosted its position in shares of Signet Jewelers by 7.9% in the 1st quarter. Pacer Advisors Inc. now owns 283,706 shares of the company’s stock valued at $24,013,000 after purchasing an additional 20,780 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Signet Jewelers by 35.9% during the 1st quarter. Principal Financial Group Inc. now owns 265,235 shares of the company’s stock worth $22,449,000 after buying an additional 70,110 shares during the last quarter.

Signet Jewelers Company Profile

Signet Jewelers Limited (NYSE:SIG) is a specialty jewelry retailer that sells diamond jewelry, bridal products, fashion jewelry, watches and related accessories. The company also provides services such as jewelry repair, customization, piercing and financing through its retail and digital channels.

Signet operates through a portfolio of well-known brands, including Kay Jewelers, Zales, Jared, Diamonds Direct, Blue Nile, James Allen, Peoples, H.Samuel, Ernest Jones and Piercing Pagoda. Its brands serve customers across a range of price points and shopping occasions, from engagements and weddings to everyday fashion and gift purchases.

The company serves customers primarily in the United States, Canada and the United Kingdom through a combination of physical stores, online platforms and other digital shopping channels.