This Top Stock Has Tripled Since 2020, and It Looks Like a Bargain. Time to Buy?
Signet Jewelers (NYSE: SIG) may not get a lot of attention on Wall Street, but the stock has quietly crushed the market in recent years. The world's largest diamond jewelry retailer -- including such brands as Kay, Zales, Jared, and Blue Nile -- is up 206% over the last three years versus a 23% gain for the S 500. So far this year, Signet has gained 32%, ahead of the S 500's return of 19%.
A multi-pronged strategy focused on closing underperforming stores, acquiring higher-end, digital-first brands, investing in higher-margin services like repair, and growing its loyalty program have all led to the stock's strong comeback. Let's see whether this jewelry stock can continue to shine.
The stock's ability to outperform was on display again in the third quarter as shares rose 5.9% on Tuesday, hitting a 52-week high on the results.
Source Fool.com
Signet Jewelers Stock
With 10 Buy predictions and not the single Sell prediction the community is currently very high on Signet Jewelers.
As a result the target price of 110 € shows a positive potential of 33.62% compared to the current price of 82.32 € for Signet Jewelers.
