Ferguson (OTCMKTS:FERGY) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Ferguson (OTCMKTS:FERGY) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

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. “

Several other analysts have also recently commented on FERGY. SunTrust Banks began coverage on shares of Ferguson in a research report on Tuesday, July 16th. They set a buy rating for the company. Canaccord Genuity cut shares of Ferguson from a buy rating to a hold rating in a research report on Wednesday, July 3rd. ValuEngine upgraded shares of Ferguson from a sell rating to a hold rating in a research report on Wednesday, May 1st. Credit Suisse Group cut shares of Ferguson from a neutral rating to an underperform rating in a research report on Friday, May 17th. Finally, Citigroup cut shares of Ferguson from a buy rating to a neutral rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $7.75.

Shares of Ferguson stock traded up $0.04 on Thursday, hitting $7.11. 52,218 shares of the company’s stock traded hands, compared to its average volume of 149,667. The firm’s 50-day moving average price is $7.28 and its two-hundred day moving average price is $6.97. The stock has a market capitalization of $16.35 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.25 and a beta of 1.08. Ferguson has a one year low of $5.95 and a one year high of $8.67.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States, the United Kingdom, Canada, and Central Europe. It offers plumbing and heating solutions to customers in the residential, municipal, civil and industrial markets, and commercial sectors for repair, maintenance, and improvement (RMI), as well as new construction markets.

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