Kingfisher (KGF) Downgraded by HSBC to Hold

HSBC downgraded shares of Kingfisher (LON:KGF) to a hold rating in a research note published on Thursday.

A number of other brokerages have also recently issued reports on KGF. Credit Suisse Group reaffirmed an outperform rating and issued a GBX 355 ($4.64) price objective on shares of Kingfisher in a research note on Monday, September 17th. UBS Group reaffirmed a sell rating on shares of Kingfisher in a research note on Friday, September 14th. Royal Bank of Canada reaffirmed a sector performer rating on shares of Kingfisher in a research note on Tuesday, October 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Kingfisher from GBX 240 ($3.14) to GBX 220 ($2.87) and set an underweight rating for the company in a research note on Friday, November 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of GBX 308.13 ($4.03).

Shares of Kingfisher stock traded down GBX 1.30 ($0.02) during trading on Thursday, reaching GBX 226.20 ($2.96). The company’s stock had a trading volume of 7,986,996 shares, compared to its average volume of 9,940,000. Kingfisher has a 52-week low of GBX 285.30 ($3.73) and a 52-week high of GBX 369.80 ($4.83).

In related news, insider Karen Witts sold 635 shares of the company’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of GBX 240 ($3.14), for a total transaction of £1,524 ($1,991.38). Insiders have purchased a total of 191 shares of company stock valued at $44,968 over the last quarter.

Kingfisher Company Profile

Kingfisher plc, together with its subsidiaries, supplies DIY and home improvement products and services primarily in the United Kingdom and continental Europe. The company operates approximately 1,300 stores in 10 countries across Europe under the B&Q, Castorama, Brico Dépôt, Screwfix, and Koctas brands.

See Also: Certificate of Deposit (CD)

Analyst Recommendations for Kingfisher (LON:KGF)

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