Zacks Investment Research Upgrades Ferguson Plc (FERGY) to “Buy”
Ferguson Plc (NASDAQ:FERGY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $7.50 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.17% from the stock’s previous close.
According to Zacks, “Ferguson plc is a distributor of plumbing and heating products to professional contractors and consumers primarily in the USA, UK, Nordics, Canada and Central Europe. Ferguson plc, formerly known as Wolseley plc, is headquartered in Zug, Switzerland. “
Separately, Sanford C. Bernstein started coverage on Ferguson Plc in a research report on Wednesday, September 13th. They set an “outperform” rating for the company.
Shares of Ferguson Plc (NASDAQ:FERGY) traded up 1.93% on Wednesday, hitting $6.87. The company had a trading volume of 117,958 shares. Ferguson Plc has a 52 week low of $5.06 and a 52 week high of $6.90. The stock’s 50-day moving average is $6.17 and its 200 day moving average is $6.23. The company’s market capitalization is $17.40 billion.
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About Ferguson Plc
Ferguson Plc, formerly Wolseley plc, is a Switzerland-based holding company. The Company is engaged in the distribution of plumbing and heating products and building materials. The Company’s segments include USA, UK, Nordics, and Canada and Central Europe. The Company operates seven business units in the United States, six of these mainly operate in the business to business (B2B) market with one operating in the business to consumer (B2C) market.
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