Ferguson (OTCMKTS:FERGY) Downgraded to Sell at Zacks Investment Research

Ferguson (OTCMKTS:FERGY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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 research analysts have also recently issued reports on FERGY. Citigroup cut Ferguson from a “buy” rating to a “neutral” rating in a research note on Monday, August 12th. SunTrust Banks initiated coverage on shares of Ferguson in a research note on Tuesday, July 16th. They issued a “buy” rating for the company. Berenberg Bank downgraded shares of Ferguson from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Credit Suisse Group downgraded shares of Ferguson from a “neutral” rating to an “underperform” rating in a report on Friday, May 17th. Finally, Bank of America lowered shares of Ferguson from a “neutral” rating to an “underperform” rating in a research report on Tuesday, August 27th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Ferguson has a consensus rating of “Hold” and an average target price of $7.75.

FERGY traded up $0.04 during trading hours on Wednesday, hitting $7.67. 92,237 shares of the company’s stock were exchanged, compared to its average volume of 342,320. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.43 and a beta of 1.09. Ferguson has a 1-year low of $5.95 and a 1-year high of $8.67. The stock’s 50-day moving average is $7.38 and its two-hundred day moving average is $7.04.

Ferguson Company Profile

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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