Ferguson (NASDAQ:FERG) Price Target Lowered to $190.00 at JPMorgan Chase & Co.

Ferguson (NASDAQ:FERG) had its target price decreased by JPMorgan Chase & Co. from $205.00 to $190.00 in a research report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research firms have also commented on FERG. Wells Fargo & Company lowered their price target on shares of Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and set a $189.00 price target on shares of Ferguson in a research report on Tuesday. Citigroup cut their price target on Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Wolfe Research initiated coverage on Ferguson in a research note on Monday. They set a “peer perform” rating on the stock. Finally, Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and boosted their target price for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and an average price target of $200.67.

Ferguson Stock Up 1.1 %

FERG opened at $164.72 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The company has a market cap of $32.94 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.69 and a beta of 1.28. Ferguson has a one year low of $152.52 and a one year high of $225.63. The business’s fifty day moving average is $175.33 and its two-hundred day moving average is $189.23.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the firm earned $1.74 earnings per share. Ferguson’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Ferguson will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be issued a $0.83 dividend. The ex-dividend date is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a yield of 2.02%. Ferguson’s payout ratio is 40.84%.

Hedge Funds Weigh In On Ferguson

A number of large investors have recently bought and sold shares of FERG. True Wealth Design LLC grew its stake in shares of Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after buying an additional 135 shares during the period. Manchester Capital Management LLC grew its position in Ferguson by 906.7% during the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after acquiring an additional 136 shares during the period. LGT Financial Advisors LLC grew its position in Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock valued at $34,000 after acquiring an additional 102 shares during the period. Berbice Capital Management LLC purchased a new position in shares of Ferguson in the 4th quarter worth about $35,000. Finally, Brooklyn Investment Group acquired a new position in shares of Ferguson in the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

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.