Ferguson Plc (FERGY) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Ferguson Plc (NASDAQ:FERGY) from a hold rating to a buy rating in a report released on Wednesday, October 4th. The brokerage currently has $7.50 price objective on the stock.

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. “

Separately, Sanford C. Bernstein began coverage on Ferguson Plc in a research note on Wednesday, September 13th. They issued an outperform rating for the company.

Ferguson Plc (FERGY) traded down 1.4727% during midday trading on Wednesday, reaching $6.8575. 18,407 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $6.39 and its 200-day moving average price is $6.26. The stock’s market cap is $17.32 billion. Ferguson Plc has a one year low of $5.06 and a one year high of $7.00.

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Ferguson Plc 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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