Zacks Investment Research Downgrades Kingfisher (OTCMKTS:KGFHY) to Hold

Zacks Investment Research lowered shares of Kingfisher (OTCMKTS:KGFHY) from a buy rating to a hold rating in a research note released on Wednesday, January 17th.

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. “

Several other equities analysts also recently issued reports on KGFHY. ValuEngine raised shares of Kingfisher from a hold rating to a buy rating in a report on Friday, October 27th. Goldman Sachs Group raised shares of Kingfisher from a neutral rating to a buy rating in a report on Monday, October 30th. Royal Bank of Canada raised shares of Kingfisher from an underperform rating to a sector perform rating in a report on Friday, November 17th. Finally, Jefferies Group upgraded shares of Kingfisher from a hold rating to a buy rating in a research note on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $11.00.

Shares of Kingfisher (KGFHY) traded up $0.09 on Wednesday, hitting $9.93. 98,250 shares of the stock traded hands, compared to its average volume of 203,931. Kingfisher has a 52 week low of $7.58 and a 52 week high of $10.28.

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About Kingfisher

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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