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

Ferguson (OTCMKTS:FERGY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, 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. “

A number of other equities analysts have also recently issued reports on FERGY. Canaccord Genuity cut Ferguson from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. ValuEngine upgraded Ferguson from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Stifel Nicolaus restated a “hold” rating on shares of Ferguson in a report on Tuesday, May 7th. SunTrust Banks began coverage on Ferguson in a report on Tuesday, July 16th. They set a “buy” rating on the stock. Finally, Credit Suisse Group cut Ferguson from a “neutral” rating to an “underperform” rating in a report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.75.

Shares of FERGY stock opened at $7.37 on Wednesday. The business’s 50 day simple moving average is $7.29 and its 200 day simple moving average is $6.98. Ferguson has a one year low of $5.95 and a one year high of $8.67. The stock has a market capitalization of $17.10 billion, a PE ratio of 16.75, a PEG ratio of 1.24 and a beta of 1.08.

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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