Canaccord Genuity Increases Wolseley plc (WOS) Price Target to GBX 4,600
Wolseley plc (LON:WOS) had its price objective raised by equities researchers at Canaccord Genuity from GBX 4,320 ($53.97) to GBX 4,600 ($57.47) in a research note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity’s price objective points to a potential downside of 2.25% from the company’s current price.
Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Wolseley plc from GBX 4,400 ($54.97) to GBX 4,350 ($54.35) and set a ” neutral” rating on the stock in a report on Friday, September 30th. Liberum Capital reiterated a “buy” rating and set a GBX 4,650 ($58.10) target price on shares of Wolseley plc in a research report on Tuesday, September 27th. Societe Generale reiterated a “buy” rating and set a GBX 4,600 ($57.47) target price on shares of Wolseley plc in a research report on Friday, September 16th. HSBC raised their price target on shares of Wolseley plc from GBX 4,450 ($55.60) to GBX 5,350 ($66.84) and gave the stock a “buy” rating in a report on Wednesday. Finally, Jefferies Group lowered shares of Wolseley plc to a “hold” rating and raised their price target for the stock from GBX 3,980 ($49.73) to GBX 4,180 ($52.22) in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. Wolseley plc presently has an average rating of “Hold” and a consensus price target of GBX 4,395.43 ($54.92).
Shares of Wolseley plc (LON:WOS) opened at 4695.00 on Wednesday. Wolseley plc has a 52 week low of GBX 3,214.00 and a 52 week high of GBX 4,776.00. The firm has a 50-day moving average of GBX 4,461.35 and a 200 day moving average of GBX 4,179.74. The company’s market cap is GBX 11.77 billion.
The business also recently declared a dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, October 27th will be issued a GBX 66.72 ($0.83) dividend. This is an increase from Wolseley plc’s previous dividend of $33.28. This represents a dividend yield of 1.57%. The ex-dividend date is Thursday, October 27th.
In related news, insider Frank Roach sold 40,880 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of GBX 4,199 ($52.46), for a total value of £1,716,551.20 ($2,144,616.69).
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About Wolseley plc
Wolseley plc is a Switzerland-based specialist trade distributor of plumbing and heating products and building materials in North America, the United Kingdom and Continental Europe. The Company operates in seven segments: USA, UK, Canada, Nordic, France, Central and Eastern Europe, and Group. The Group has a network of distribution centers which serve branches for its plumbing and heating businesses with 2,917 branches across 11 countries.
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