Ferguson (NASDAQ:FERG) Given New $189.00 Price Target at Citigroup

Ferguson (NASDAQ:FERG) had its price objective lowered by stock analysts at Citigroup from $221.00 to $189.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 8.67% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. UBS Group upped their price target on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Oppenheimer began coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Robert W. Baird reduced their target price on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $219.00 target price on shares of Ferguson in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average price target of $226.89.

Ferguson Stock Performance

Shares of FERG stock traded down $0.34 during mid-day trading on Monday, reaching $173.92. 881,894 shares of the company’s stock traded hands, compared to its average volume of 836,834. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The firm has a 50 day moving average price of $197.14 and a two-hundred day moving average price of $199.59. The firm has a market capitalization of $34.77 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. Ferguson has a 12 month low of $171.68 and a 12 month high of $225.63.

Insider Activity

In other Ferguson news, CAO Richard Winckler sold 1,325 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.75, for a total value of $267,318.75. Following the transaction, the chief accounting officer now owns 1,000 shares in the company, valued at approximately $201,750. This trade represents a 56.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Garland Williams sold 1,118 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the transaction, the senior vice president now directly owns 1,882 shares in the company, valued at $378,696.04. This trade represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,313 shares of company stock valued at $2,477,901 in the last quarter. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ferguson

A number of hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of Ferguson by 303.7% in the 3rd quarter. CWM LLC now owns 4,550 shares of the company’s stock valued at $904,000 after purchasing an additional 3,423 shares during the last quarter. Principal Financial Group Inc. raised its position in Ferguson by 32.5% during the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after acquiring an additional 7,862 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Ferguson during the 3rd quarter worth about $970,000. Entropy Technologies LP boosted its holdings in shares of Ferguson by 66.2% during the third quarter. Entropy Technologies LP now owns 51,647 shares of the company’s stock worth $10,256,000 after purchasing an additional 20,580 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Ferguson by 380.6% during the second quarter. Bank of Montreal Can now owns 159,411 shares of the company’s stock worth $32,309,000 after purchasing an additional 126,242 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

About Ferguson

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.