Ferguson (NASDAQ:FERG) Price Target Cut to $229.00

Ferguson (NASDAQ:FERG) had its target price decreased by Barclays from $232.00 to $229.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 13.19% from the company’s previous close.

Separately, Royal Bank of Canada decreased their price objective on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Ferguson presently has an average rating of “Hold” and an average target price of $220.00.

Ferguson Trading Up 3.5 %

Shares of Ferguson stock traded up $6.81 on Friday, reaching $202.32. The company had a trading volume of 721,456 shares, compared to its average volume of 1,133,134. Ferguson has a 52-week low of $147.62 and a 52-week high of $224.86. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The firm’s 50 day moving average price is $203.55 and its two-hundred day moving average price is $203.18. The firm has a market cap of $40.86 billion, a PE ratio of 22.13, a PEG ratio of 8.00 and a beta of 1.22.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, June 4th. The company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.05. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same period last year, the business posted $2.20 EPS. Ferguson’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts predict that Ferguson will post 9.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BayBridge Capital Group LLC lifted its position in shares of Ferguson by 2.0% in the 1st quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock worth $494,000 after buying an additional 47 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Ferguson by 3.0% during the 1st quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock worth $363,000 after purchasing an additional 48 shares during the period. OneAscent Financial Services LLC lifted its holdings 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 worth $565,000 after purchasing an additional 49 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Ferguson by 60.0% during the 1st quarter. Venturi Wealth Management LLC now owns 136 shares of the company’s stock valued at $30,000 after purchasing an additional 51 shares during the period. Finally, Financial Advocates Investment Management increased its position in Ferguson by 2.7% in the fourth quarter. Financial Advocates Investment Management now owns 1,995 shares of the company’s stock worth $385,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds 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.