Kingfisher plc (KGFHY) Rating Increased to Buy at Zacks Investment Research

Kingfisher plc (NASDAQ:KGFHY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $11.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 15.73% from the company’s previous close.

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. “

Other equities research analysts have also issued reports about the stock. RBC Capital Markets reissued an “underperform” rating on shares of Kingfisher plc in a research note on Monday, August 1st. Societe Generale reaffirmed a “hold” rating on shares of Kingfisher plc in a research note on Tuesday, June 28th. BNP Paribas lowered shares of Kingfisher plc from an “outperform” rating to a “neutral” rating in a research note on Friday, September 9th. Citigroup Inc. lowered shares of Kingfisher plc from a “neutral” rating to a “sell” rating in a research note on Tuesday, June 28th. Finally, Beaufort Securities reaffirmed a “hold” rating on shares of Kingfisher plc in a research note on Sunday, August 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $11.00.

Analyst Recommendations for Kingfisher plc (NASDAQ:KGFHY)

Shares of Kingfisher plc (NASDAQ:KGFHY) traded down 2.26% during midday trading on Wednesday, hitting $9.29. The stock had a trading volume of 142,368 shares. The stock has a market cap of $10.55 billion and a PE ratio of 19.60. The firm has a 50 day moving average price of $9.77 and a 200-day moving average price of $9.88. Kingfisher plc has a 52-week low of $7.82 and a 52-week high of $11.36.

About Kingfisher plc

Kingfisher plc is engaged in the sale of home improvement products and services. The Company operates over 1,200 stores in 11 countries across Europe and China. The Company’s segments include UK & Ireland, France and Other International. The Other International segment consists of the operations in Poland, China, Germany, Portugal, Romania, Russia and Spain, and of its joint venture with Koc Group, Koctas, a Turkey-based home improvement retailer.

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