Ferguson plc (NASDAQ:FERG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ferguson plc (NASDAQ:FERG) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $230.00.

A number of equities analysts have commented on the stock. Barclays cut their price target on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada cut their price target 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. Finally, Jefferies Financial Group boosted their price objective on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th.

Institutional Investors Weigh In On Ferguson

Hedge funds have recently made changes to their positions in the business. Richardson Financial Services Inc. bought a new stake in Ferguson during the 4th quarter valued at $25,000. EdgeRock Capital LLC purchased a new stake in shares of Ferguson during the second quarter worth about $32,000. MCF Advisors LLC bought a new stake in shares of Ferguson in the first quarter worth about $47,000. Brown Brothers Harriman & Co. increased its holdings in Ferguson by 538.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock valued at $78,000 after purchasing an additional 339 shares during the period. Finally, Versant Capital Management Inc raised its position in Ferguson by 2,462.5% during the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock valued at $79,000 after purchasing an additional 394 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Price Performance

FERG stock opened at $188.51 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. Ferguson has a one year low of $147.62 and a one year high of $225.63. The stock has a market cap of $38.07 billion, a PE ratio of 20.60, a P/E/G ratio of 5.75 and a beta of 1.21. The firm has a 50 day simple moving average of $203.78 and a two-hundred day simple moving average of $207.40.

Ferguson announced that its Board of Directors has authorized a share buyback program on Tuesday, June 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.