Wolseley plc (WOSYY) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Wolseley plc (NASDAQ:WOSYY) from a hold rating to a buy rating in a report published on Thursday. Zacks Investment Research currently has $7.00 price target on the stock.

According to Zacks, “Wolseley is the world’s largest trade distributor of plumbing and heating products and a leading supplier of building materials. Wolseley operates in five geographic regions: the United States, Canada, the Nordic region, the United Kingdom and Central Europe and France. They supply customers in the new; repair, maintenance and improvement and civil infrastructure sectors. “

Several other brokerages have also recently weighed in on WOSYY. Beaufort Securities reiterated a hold rating on shares of Wolseley plc in a research report on Wednesday, December 7th. Investec initiated coverage on Wolseley plc in a research report on Wednesday, October 12th. They set a hold rating for the company. Finally, Liberum Capital cut Wolseley plc from a buy rating to a hold rating in a research report on Thursday, January 12th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $7.00.

Analyst Recommendations for Wolseley plc (NASDAQ:WOSYY)

Shares of Wolseley plc (NASDAQ:WOSYY) opened at 6.255 on Thursday. The company has a market capitalization of $15.68 billion and a P/E ratio of 19.419. Wolseley plc has a 12 month low of $4.62 and a 12 month high of $6.35. The company has a 50-day moving average price of $6.14 and a 200-day moving average price of $5.78.

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About Wolseley plc

Wolseley plc is the holding company of the Wolseley Group of companies. The Company is engaged in the distribution of plumbing and heating products and building materials. The Company’s segments include USA, UK, Nordic, and Canada and Central Europe. The Company operates seven business units in the United States, six of these mainly operate in the business to business (B2B) market with one operating in the business to consumer (B2C) market.

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