Ferguson (FERG) Cut to Hold at Canaccord Genuity
Ferguson (LON:FERG) was downgraded by investment analysts at Canaccord Genuity to a “hold” rating in a report issued on Wednesday. They presently have a GBX 5,870 ($79.00) price target on the stock, up from their previous price target of GBX 5,435 ($73.15). Canaccord Genuity’s price target suggests a potential upside of 8.57% from the stock’s previous close.
Other analysts have also issued reports about the company. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a GBX 5,600 ($75.37) price objective on shares of Ferguson in a research note on Wednesday, August 30th. Sanford C. Bernstein initiated coverage on Ferguson in a research note on Wednesday, September 13th. They issued an “outperform” rating on the stock. Citigroup raised Ferguson to a “buy” rating and set a GBX 5,220 ($70.26) price objective on the stock in a research note on Tuesday, September 19th. Barclays reaffirmed an “overweight” rating and issued a GBX 5,600 ($75.37) price objective on shares of Ferguson in a research note on Tuesday, September 19th. Finally, Liberum Capital reaffirmed a “buy” rating and issued a GBX 5,300 ($71.33) price objective on shares of Ferguson in a research note on Friday, September 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Ferguson presently has an average rating of “Hold” and an average target price of GBX 5,292.64 ($71.23).
Ferguson (LON FERG) traded down GBX 13.41 ($0.18) on Wednesday, hitting GBX 5,406.59 ($72.77). The stock had a trading volume of 593,604 shares, compared to its average volume of 860,440. Ferguson has a 12 month low of GBX 4,427 ($59.58) and a 12 month high of GBX 5,582.90 ($75.14).
Ferguson Company Profile
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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