Ferguson (FERG) Lowered to “Hold” at Canaccord Genuity
Canaccord Genuity downgraded shares of Ferguson (LON:FERG) to a hold rating in a research report released on Wednesday morning. Canaccord Genuity currently has GBX 5,870 ($79.00) price objective on the stock, up from their previous price objective of GBX 5,435 ($73.15).
Other equities research analysts have also recently issued research reports about the company. Citigroup upgraded Ferguson to a buy rating and set a GBX 5,220 ($70.26) price objective for the company in a report on Tuesday, September 19th. Peel Hunt increased their price objective on Ferguson from GBX 5,120 ($68.91) to GBX 5,200 ($69.99) and gave the stock a hold rating in a report on Tuesday, October 3rd. J P Morgan Chase & Co increased their price objective on Ferguson from GBX 5,600 ($75.37) to GBX 5,675 ($76.38) and gave the stock an overweight rating in a report on Monday, December 4th. Liberum Capital reiterated a buy rating and issued a GBX 5,450 ($73.35) price objective on shares of Ferguson in a report on Tuesday, December 5th. Finally, Deutsche Bank reiterated a hold rating and issued a GBX 4,700 ($63.26) price objective on shares of Ferguson in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of GBX 5,292.64 ($71.23).
Shares of Ferguson (LON:FERG) opened at GBX 5,351.69 ($72.03) on Wednesday. Ferguson has a fifty-two week low of GBX 4,427 ($59.58) and a fifty-two week high of GBX 5,582.90 ($75.14).
The business also recently disclosed a dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, October 26th were paid a dividend of GBX 73.33 ($0.99) per share. This represents a yield of 1.41%. The ex-dividend date of this dividend was Thursday, October 26th.
In other Ferguson news, insider Richard Shoylekov sold 18,712 shares of Ferguson stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of GBX 5,368 ($72.25), for a total transaction of £1,004,460.16 ($1,351,897.93).
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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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