Zacks Investment Research Lowers Kingfisher plc (KGFHY) to Hold

Zacks Investment Research cut shares of Kingfisher plc (NASDAQ:KGFHY) from a buy rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “KINGFISHER is Europe’s leading home improvement retail group and the third largest in the world, with leading market positions in the UK, France, Poland, Italy, Turkey, China. Kingfisher operates 780 stores in nine countries in Europe and Asia. Its main retail brands are B&Q, Castorama, Brico Dépôt and Screwfix. Kingfisher also has a 21% interest in, and strategic alliance with Hornbach, Germany’s leading DIY warehouse retailer, with over 120 stores across Europe. “

A number of other equities analysts have also recently issued reports on KGFHY. ValuEngine cut Kingfisher plc from a buy rating to a hold rating in a report on Friday, June 2nd. HSBC Holdings plc upgraded Kingfisher plc from a hold rating to a buy rating in a report on Wednesday, May 17th. Finally, Barclays PLC restated an underweight rating on shares of Kingfisher plc in a report on Thursday, March 30th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Kingfisher plc presently has an average rating of Hold and an average target price of $10.00.

Kingfisher plc (NASDAQ:KGFHY) traded up 1.02% during mid-day trading on Wednesday, hitting $7.93. The stock had a trading volume of 350,306 shares. The stock’s 50-day moving average price is $8.51 and its 200-day moving average price is $8.48. Kingfisher plc has a 12 month low of $7.71 and a 12 month high of $10.11. The stock has a market cap of $8.86 billion and a price-to-earnings ratio of 11.30.

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About Kingfisher plc

Kingfisher plc is engaged in the supply of home improvement products and services through a network of retail stores and other channels, located mainly in the United Kingdom and continental Europe. The Company’s segments include France, UK & Ireland, and Other International. The Other International segment consists of Poland, Spain, Portugal, Germany, Russia, Romania and the joint venture Koctas Yapi Marketleri Ticaret A.S.

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