Wells Fargo & Company Lowers Ferguson (NASDAQ:FERG) Price Target to $180.00

Ferguson (NASDAQ:FERG) had its price target reduced by Wells Fargo & Company from $205.00 to $180.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 15.59% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and upped their price objective for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. UBS Group reissued a “neutral” rating and set a $193.00 price target (down previously from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Barclays lowered their price objective on Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday. Royal Bank of Canada reduced their target price on Ferguson from $211.00 to $189.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Berenberg Bank lifted their price target on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.55.

Ferguson Price Performance

NASDAQ FERG traded down $1.25 during trading hours on Wednesday, reaching $155.73. The company’s stock had a trading volume of 550,425 shares, compared to its average volume of 1,821,525. 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’s 50-day moving average is $176.90 and its two-hundred day moving average is $191.11. Ferguson has a fifty-two week low of $154.09 and a fifty-two week high of $225.63. The stock has a market cap of $31.14 billion, a PE ratio of 18.72, a PEG ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share 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 company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same period in the previous year, the business posted $1.74 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts forecast that Ferguson will post 9.4 EPS for the current year.

Institutional Investors Weigh In On Ferguson

Several institutional investors have recently bought and sold shares of FERG. Manchester Capital Management LLC raised its stake in shares of Ferguson by 906.7% in the 4th 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. True Wealth Design LLC raised its position in Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. LGT Financial Advisors LLC lifted its stake in shares of Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock worth $34,000 after purchasing an additional 102 shares in the last quarter. Berbice Capital Management LLC acquired a new position in shares of Ferguson during the fourth quarter worth about $35,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Ferguson in the third quarter worth about $39,000. 81.98% of the stock is currently owned by hedge funds and other 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.