Kingfisher (LON:KGF) Receives Outperform Rating from Royal Bank Of Canada

Key Points

• Royal Bank of Canada reissued an outperform rating on Kingfisher and set a GBX 350 price target, implying about 28% upside from the previous close.
• Other analysts remain more cautious: the stock currently carries an overall Hold consensus, with an average target price of GBX 306.62 and mixed ratings from UBS, Berenberg, Jefferies, and Deutsche Bank.
• Kingfisher shares opened at GBX 273 and the company continues to trade below its 52-week high of GBX 372.30; the article also notes a board-approved share repurchase program, which can signal management sees value in the stock.

Kingfisher (LON:KGF - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Royal Bank Of Canada in a report issued on Friday,Digital Look reports. They currently have a GBX 350 target price on the home improvement retailer's stock. Royal Bank Of Canada's price objective points to a potential upside of 28.21% from the company's previous close.

KGF has been the topic of a number of other reports. UBS Group reaffirmed a "neutral" rating and set a GBX 295 price objective on shares of Kingfisher in a research report on Friday, May 22nd. Berenberg Bank reissued a "hold" rating and issued a GBX 295 target price on shares of Kingfisher in a report on Wednesday, May 27th. Jefferies Financial Group restated a "hold" rating and set a GBX 291 target price on shares of Kingfisher in a research note on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating and set a GBX 260 price target on shares of Kingfisher in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of GBX 306.62.

Kingfisher Stock Performance

KGF stock opened at GBX 273 on Friday. The company has a debt-to-equity ratio of 38.02, a current ratio of 1.21 and a quick ratio of 0.27. Kingfisher has a 1 year low of GBX 240.30 and a 1 year high of GBX 372.30. The company has a market cap of £4.51 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 2.87 and a beta of 1.12. The stock's fifty day moving average price is GBX 284.05 and its 200-day moving average price is GBX 307.28.

Kingfisher declared that its board has authorized a share repurchase program on Friday, April 10th that allows the company to repurchase 0 shares. This repurchase authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

About Kingfisher

Kingfisher plc is an international home improvement company with over 1,800 stores, supported by a team of more than 70,000 colleagues. We operate in seven countries across Europe under retail banners including B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint and Koçtaş. We offer home improvement products and services to consumers and trade professionals who shop in our stores and via our e-commerce channels.

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