Zacks Investment Research upgraded shares of Wolseley plc (NASDAQ:WOSYY) from a hold rating to a buy rating in a research note published on Saturday morning. They currently have $6.50 target price on the construction company’s stock.

According to Zacks, “Wolseley is the world’s largest trade distributor of plumbing and heating products and a leading supplier of building materials. Wolseley operates in five geographic regions: the United States, Canada, the Nordic region, the United Kingdom and Central Europe and France. They supply customers in the new; repair, maintenance and improvement and civil infrastructure sectors. “

Several other analysts have also commented on WOSYY. Canaccord Genuity raised Wolseley plc from a hold rating to a buy rating in a report on Wednesday, June 21st. J P Morgan Chase & Co raised Wolseley plc from a neutral rating to an overweight rating in a report on Monday, June 5th. Liberum Capital raised Wolseley plc from a hold rating to a buy rating in a report on Friday, June 16th. ValuEngine raised Wolseley plc from a hold rating to a buy rating in a report on Tuesday, June 27th. Finally, HSBC Holdings plc reaffirmed a hold rating on shares of Wolseley plc in a report on Friday, April 7th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $6.50.

Wolseley plc (NASDAQ:WOSYY) opened at 5.95 on Friday. The stock has a market capitalization of $14.93 billion and a PE ratio of 19.17. Wolseley plc has a 52-week low of $5.06 and a 52-week high of $6.64. The stock’s 50 day moving average price is $6.11 and its 200-day moving average price is $6.23.

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About Wolseley plc

Wolseley plc is the holding company of the Wolseley Group of companies. The Company is engaged in the distribution of plumbing and heating products and building materials. The Company’s segments include USA, UK, Nordic, 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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