Ferguson (NASDAQ:FERG) Price Target Cut to $225.00 by Analysts at Wells Fargo & Company

Ferguson (NASDAQ:FERG) had its price objective reduced by equities research analysts at Wells Fargo & Company from $250.00 to $225.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 8.07% from the stock’s previous close.

Several other research analysts also recently issued reports on FERG. Royal Bank of Canada upped their price target on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group increased their target price on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup lifted their price target on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday. Robert W. Baird upped their price objective on Ferguson from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Barclays lifted their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $231.57.

Ferguson Stock Performance

NASDAQ:FERG opened at $208.19 on Wednesday. Ferguson has a twelve month low of $147.62 and a twelve month high of $225.63. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The stock’s 50-day simple moving average is $204.62 and its 200 day simple moving average is $206.94. The firm has a market capitalization of $42.04 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. The company had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $2.77 EPS. On average, analysts anticipate that Ferguson will post 9.63 EPS for the current fiscal year.

Ferguson declared that its Board of Directors has initiated a share buyback program on Tuesday, June 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Ferguson

Institutional investors have recently modified their holdings of the company. BayBridge Capital Group LLC lifted its holdings in Ferguson by 2.0% in the first quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock valued at $494,000 after buying an additional 47 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Ferguson by 3.0% in the 1st quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock valued at $363,000 after purchasing an additional 48 shares during the period. OneAscent Financial Services LLC lifted its stake in shares of Ferguson by 1.9% in the 1st quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock valued at $565,000 after purchasing an additional 49 shares during the period. Perigon Wealth Management LLC boosted its position in shares of Ferguson by 3.6% during the 1st quarter. Perigon Wealth Management LLC now owns 1,568 shares of the company’s stock valued at $342,000 after purchasing an additional 55 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Ferguson by 1.8% during the first quarter. Oppenheimer & Co. Inc. now owns 3,142 shares of the company’s stock worth $686,000 after purchasing an additional 57 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.