Is Wolseley (LON:WOS) a Buy or a Sell? What Does Canaccord Genuity Think?

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Why Has Canaccord Genuity Given Wolseley (LON:WOS) a GBX 4400 Price Target

Canaccord Genuity analyst have commenced coverage coverage with a Buy rating on Wolseley (LON:WOS) today and set a price target of GBX 4400. The firm’s shares opened today at 3867.

From a total of 21 analysts covering Wolseley (LON:WOS) stock, 13 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 62% of the ratings are positive. The highest target price is GBX 5305 while the lowest target price is GBX 3625. The mean of all analyst targets is GBX 4279.42 with a 10.67% above today’s (GBX 3867) stock price. Wolseley was the topic of 60 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. AlphaValue maintained shares on December 3 with “Add” rating. Deutsche Bank downgraded shares to “Hold” rating and GBX 3625 target share price in a report from a November 16. Credit Suisse maintained WOS stock in a recent report from November 24 with “Outperform” rating. Numis Securities maintained the rating on November 16. Numis Securities has a “Hold” rating and a GBX 3845 price target on shares. Finally, Goodbody maintained the stock with “Buy” rating in a report issued on a November 17.

Approximately 200,792 shares of stock traded hands. Wolseley plc (LON:WOS) has declined 1.00% since May 12, 2015 and is downtrending. It has underperformed by 0.20% the S&P500.

Is Wolseley (LON:WOS) a Buy or a Sell? What Does Canaccord Genuity Think?

Wolseley plc is a Switzerland-based specialist trade distributor of plumbing and heating products and building materials in North America, the United Kingdom and Continental Europe. The company has a market cap of 10.01 billion GBP. The Firm operates in seven divisions: USA, UK, Canada, Nordic, France, Central and Eastern Europe, and Group. It has 31.2 P/E ratio. The Group has a network of distribution centers which serve branches for its plumbing and heating businesses with 2,917 branches across 11 countries.

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