IInvestors focused on the retail and wholesale space have likely heard of Signet Jewelers (SIG), but is the stock performing well compared to the rest of its industry peers? Let’s take a closer look at the stock’s performance since the start of the year to find out.
Signet Jewelers is one of 220 companies in the Retail-Wholesale group. The Retail-Wholesale group currently occupies third place in the ranking of the Zacks sector. The Zacks Industry Rankings include 16 different groups and is ranked from best to worst in terms of the average Zacks rankings of individual companies in each of those industries.
Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that display the right characteristics to beat the market over the next one to three months. SIG currently has a Zacks # 1 (strong buy) ranking.
Over the past 90 days, Zacks’ consensus estimate for SIG’s annual earnings has risen 31.93%. This indicates that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the latest available data, SIG has gained around 189.55% so far this year. Meanwhile, the shares of the Retail-Wholesale group lost around 8.85% on average. As can be seen, Signet Jewelers performs better than its sector over the calendar year.
To break things down further, SIG belongs to the Retail – Jewelry industry, a group that includes 5 individual companies and currently sits 16th in the Zacks industry rankings. This group has gained an average of 170.63% so far this year, so SIG is performing better in this area.
SIG will likely look to continue its strong performance, so investors interested in retail and wholesale stocks should continue to pay close attention to the company.
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