Ferguson (OTCMKTS:FERGY) Cut to “Underperform” at Royal Bank of Canada
Royal Bank of Canada downgraded shares of Ferguson (OTCMKTS:FERGY) from a sector perform rating to an underperform rating in a research report released on Thursday morning, The Fly reports.
Several other research firms have also commented on FERGY. Zacks Investment Research lowered Ferguson from a hold rating to a sell rating in a research note on Tuesday, September 17th. Berenberg Bank lowered Ferguson from a buy rating to a hold rating in a research note on Friday, June 14th. SunTrust Banks initiated coverage on Ferguson in a research note on Tuesday, July 16th. They issued a buy rating for the company. Bank of America lowered Ferguson from a neutral rating to an underperform rating in a research note on Tuesday, August 27th. Finally, Canaccord Genuity lowered Ferguson from a buy rating to a hold rating in a research note on Wednesday, July 3rd. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $7.75.
Shares of OTCMKTS:FERGY opened at $7.37 on Thursday. The company has a market capitalization of $17.42 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.39 and a beta of 1.09. The stock’s fifty day simple moving average is $7.38 and its 200-day simple moving average is $7.06. Ferguson has a 52-week low of $5.95 and a 52-week high of $8.67.
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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