Here's Why Signet (SIG) is a Strong Momentum Stock
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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Signet (SIG)
Founded in 1950 and headquartered in Hamilton, Bermuda, Signet Jewelers Limited (SIG) is a retailer of diamond jewelry, watches and other products. The company operates in the United States, Canada, the U.K., the Republic of Ireland and the Channel Islands. It is often considered to be the leading retailer of diamond jewelry. We note that Signet had 2,668 stores as of Aug. 3, 2024.
SIG boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Signet has seen some interesting price action recently; the stock is up 5.3% over the past one week and up 22.6% over the past four weeks. And in the last one-year period, SIG has gained 41.9%. As for the stock's trading volume, 1,126,547.63 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2025, two analysts revised their earnings estimate higher in the last 60 days for SIG, while the Zacks Consensus Estimate has increased $0.20 to $10.80 per share. SIG also boasts an average earnings surprise of 28.1%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding SIG to their portfolios.
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Signet Jewelers Limited (SIG) : Free Stock Analysis Report