This Dirt Cheap Value Stock Just Ripped Higher. Here's Why It Could Keep Rallying

Signet Jewelers (NYSE: SIG) doesn't get a lot of attention on Wall Street, but the latest earnings report from the world's largest diamond jewelry retailer should turn a few heads. The retail stock jumped 20% Tuesday and tacked on another 6% Wednesday after the company easily beat estimates in its third-quarter earnings report and raised its guidance, even as it faced difficult comparisons with the quarter a year ago and a volatile macroeconomic environment. In addition to the earnings beat, Signet shares seemed to jump because the company proved that it is managing well through a challenging environment, and the stock is a great value at the current price.