Kingfisher (OTCMKTS:KGFHY) Hits New 52-Week High Following Analyst Upgrade

Kingfisher PLC (OTCMKTS:KGFHY)’s stock price reached a new 52-week high during trading on Friday after Royal Bank Of Canada upgraded the stock from a hold rating to a moderate buy rating. The stock traded as high as $8.42 and last traded at $8.42, with a volume of 25468 shares changing hands. The stock had previously closed at $8.25.

KGFHY has been the subject of several other reports. Deutsche Bank Aktiengesellschaft cut shares of Kingfisher from a “buy” rating to a “hold” rating in a research note on Tuesday, August 26th. UBS Group assumed coverage on shares of Kingfisher in a report on Monday, July 28th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Kingfisher Stock Up 2.1%

The company’s fifty day simple moving average is $7.48 and its 200-day simple moving average is $7.50.

Kingfisher Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Monday, October 13th will be issued a $0.0908 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a dividend yield of 369.0%.

About Kingfisher

Kingfisher plc, together with its subsidiaries, supplies home improvement products and services primarily in the United Kingdom, Ireland, France, and internationally. It also operates retail stores under the B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint, and Koçtas brands. The company sells its products through stores and e-commerce channels.