Ferguson (NASDAQ:FERG) Price Target Raised to $232.00 at Wells Fargo & Company

Ferguson (NASDAQ:FERG) had its price target hoisted by equities researchers at Wells Fargo & Company from $225.00 to $232.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 11.82% from the company’s previous close.

FERG has been the topic of a number of other reports. Robert W. Baird boosted their price objective on shares of Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Jefferies Financial Group upped their target price on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada upped their target price on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Barclays upped 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, September 18th. Finally, Oppenheimer initiated coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.38.

Ferguson Stock Down 1.6 %

Shares of Ferguson stock opened at $207.48 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The company’s fifty day simple moving average is $198.64 and its two-hundred day simple moving average is $203.46. The company has a market cap of $41.65 billion, a P/E ratio of 24.32, a PEG ratio of 2.05 and a beta of 1.20. Ferguson has a 12-month low of $156.23 and a 12-month high of $225.63.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. The business had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.77 EPS. Research analysts anticipate that Ferguson will post 9.77 EPS for the current year.

Insider Activity at Ferguson

In other Ferguson news, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the transaction, the senior vice president now owns 1,882 shares in the company, valued at approximately $378,696.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ferguson news, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the transaction, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the transaction, the senior vice president now owns 1,882 shares in the company, valued at $378,696.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Ferguson

Several institutional investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. lifted its stake in shares of Ferguson by 1.8% in the 1st 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. Frank Rimerman Advisors LLC lifted its stake in shares of Ferguson by 1.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock worth $657,000 after purchasing an additional 57 shares during the period. Transatlantique Private Wealth LLC lifted its stake in shares of Ferguson by 3.0% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock worth $394,000 after purchasing an additional 60 shares during the period. Mayflower Financial Advisors LLC lifted its stake in shares of Ferguson by 3.2% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock worth $388,000 after purchasing an additional 61 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Ferguson by 3.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,130 shares of the company’s stock worth $412,000 after purchasing an additional 78 shares during the period. Institutional investors own 81.98% of the company’s stock.

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.