Ferguson (NASDAQ:FERG) PT Raised to $219.00

Ferguson (NASDAQ:FERG) had its price objective lifted by stock analysts at Royal Bank of Canada from $211.00 to $219.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 5.19% from the company’s previous close.

Other research analysts also recently issued reports about the company. Barclays cut their price objective on Ferguson from $232.00 to $229.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. 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 research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.57.

Ferguson Price Performance

NASDAQ FERG opened at $208.19 on Wednesday. The company has a 50 day moving average price of $204.62 and a two-hundred day moving average price of $206.94. Ferguson has a 12-month low of $147.62 and a 12-month high of $225.63. The stock has a market capitalization of $42.04 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64.

Ferguson (NASDAQ:FERG) last posted its earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same period in the prior year, the business posted $2.77 earnings per share. The business’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts predict that Ferguson will post 9.63 earnings per share for the current fiscal year.

Ferguson announced that its Board of Directors has authorized a share repurchase plan on Tuesday, June 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Ferguson

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Richardson Financial Services Inc. bought a new stake in shares of Ferguson in the fourth quarter valued at about $25,000. EdgeRock Capital LLC bought a new position in Ferguson during the second quarter valued at about $32,000. MCF Advisors LLC acquired a new position in Ferguson in the 1st quarter valued at approximately $47,000. Brown Brothers Harriman & Co. lifted its position in shares of Ferguson by 538.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock worth $78,000 after acquiring an additional 339 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Ferguson by 2,462.5% during the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after purchasing an additional 394 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

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.