Kingfisher (OTCMKTS:KGFHY) Shares Gap Up – Time to Buy?

Shares of Kingfisher PLC (OTCMKTS:KGFHY) gapped up before the market opened on Tuesday . The stock had previously closed at $7.67, but opened at $8.13. Kingfisher shares last traded at $8.17, with a volume of 11,576 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on KGFHY. Deutsche Bank Aktiengesellschaft lowered shares of Kingfisher from a “buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Royal Bank Of Canada raised shares of Kingfisher from a “hold” rating to a “moderate buy” rating in a research note on Friday, October 24th. 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 stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

Kingfisher Stock Down 1.6%

The firm’s fifty day simple moving average is $7.94 and its 200-day simple moving average is $7.62.

Kingfisher Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, November 19th. Shareholders of record on Monday, October 13th were issued a $0.0908 dividend. The ex-dividend date of this dividend was 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.