In the latest trading session, Signet (SIG) closed at $76.93, marking a +0.39% move from the previous day. This change outpaced the S&P 500's 0.35% gain on the day.Prior to today's trading, shares of the jewelry company had gained 2.52% over the past month. This has lagged the Retail-Wholesale sector's gain of 3.99% and the S&P 500's gain of 3.64% in that time.SIG will be looking to display strength as it nears its next earnings release. On that day, SIG is projected to report earnings of $1.57 per share, which would represent year-over-year growth of 238.94%.It is also important to note the recent changes to analyst estimates for SIG. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 42.89% higher. SIG is currently sporting a Zacks Rank of #1 (Strong Buy).In terms of valuation, SIG is currently trading at a Forward P/E ratio of 11.16. This represents a discount compared to its industry's average Forward P/E of 13.09.Investors should also note that SIG has a PEG ratio of 1.4 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. SIG's industry had an average PEG ratio of 1.4 as of yesterday's close.The Retail - Jewelry industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Signet Jewelers Limited (SIG): Free Stock Analysis Report To read this article on Zacks.com click here.