Ferguson (OTCMKTS:FERGY) Rating Increased to Buy at Zacks Investment Research

Ferguson (OTCMKTS:FERGY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, January 18th. The firm presently has a $9.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 24.27% from the stock’s previous close.

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 also recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Ferguson in a report on Wednesday, January 17th. Numis Securities raised shares of Ferguson from a “hold” rating to an “add” rating in a report on Tuesday, January 16th. Finally, ValuEngine raised shares of Ferguson from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Ferguson has an average rating of “Hold” and a consensus price target of $9.00.

Shares of Ferguson (FERGY) traded up $0.08 during trading on Thursday, reaching $7.24. 698,985 shares of the company’s stock were exchanged, compared to its average volume of 756,541. The company has a current ratio of 1.74, a quick ratio of 1.30 and a debt-to-equity ratio of 0.24. Ferguson has a twelve month low of $5.80 and a twelve month high of $7.98.

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About Ferguson

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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