Shares of Signet Jewelers (SIG) have been strong performers lately, with the stock up 11.2% over the past month. The stock hit a new 52-week high of $88.83 in the previous session. Signet Jewelers has gained 213.5% since the start of the year compared to the -8.4% move for the Zacks Retail-Wholesale sector and the 58.7% return for the Zacks Retail - Jewelry industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on September 2, 2021, Signet reported EPS of $3.57 versus consensus estimate of $1.61 while it beat the consensus revenue estimate by 9.23%.For the current fiscal year, Signet is expected to post earnings of $9.06 per share on $6.95 billion in revenues. This represents a 329.38% change in EPS on a 32.95% change in revenues. For the next fiscal year, the company is expected to earn $7.51 per share on $7.05 billion in revenues. This represents a year-over-year change of -17.11% and 1.45%, respectively.Valuation MetricsSignet may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.Signet has a Value Score of A. The stock's Growth and Momentum Scores are A and F, respectively, giving the company a VGM Score of B.In terms of its value breakdown, the stock currently trades at 9.4X current fiscal year EPS estimates. On a trailing cash flow basis, the stock currently trades at 14.2X versus its peer group's average of 14.2X. Additionally, the stock has a PEG ratio of 1.18. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.Zacks RankWe also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Signet currently has a Zacks Rank of #1 (Strong Buy) thanks to rising earnings estimates.Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Signet passes the test. Thus, it seems as though Signet shares could still be poised for more gains ahead. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs 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.