Ferguson (OTCMKTS:FERGY) Cut to “Sell” at Zacks Investment Research

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

FERGY has been the topic of a number of other reports. Berenberg Bank downgraded shares of Ferguson from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Bank of America downgraded shares of Ferguson from a “neutral” rating to an “underperform” rating in a report on Tuesday, August 27th. Canaccord Genuity downgraded shares of Ferguson from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Citigroup downgraded shares of Ferguson from a “buy” rating to a “neutral” rating in a report on Monday, August 12th. Finally, SunTrust Banks initiated coverage on shares of Ferguson in a report on Tuesday, July 16th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $7.75.

Shares of OTCMKTS FERGY traded up $0.02 during midday trading on Tuesday, reaching $7.55. The company’s stock had a trading volume of 100,342 shares, compared to its average volume of 336,720. Ferguson has a fifty-two week low of $5.95 and a fifty-two week high of $8.67. The stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.41 and a beta of 1.09. The stock has a 50 day simple moving average of $7.39 and a 200-day simple moving average of $7.05.

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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