UBS Group Increases Ferguson (NASDAQ:FERG) Price Target to $236.00

Ferguson (NASDAQ:FERG) had its price target raised by stock analysts at UBS Group from $228.00 to $236.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 13.36% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada upped their price target on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays dropped 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 Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Robert W. Baird boosted their price objective on Ferguson from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and a consensus target price of $231.57.

Ferguson Trading Up 1.3 %

Shares of FERG stock opened at $208.19 on Wednesday. The firm has a market capitalization of $42.04 billion, a P/E ratio of 22.75, a P/E/G ratio of 6.13 and a beta of 1.21. Ferguson has a twelve month low of $147.62 and a twelve month high of $225.63. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $204.62 and its 200 day simple moving average is $206.94.

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

Ferguson declared that its board has authorized a share repurchase program on Tuesday, June 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in Ferguson during the 4th quarter worth approximately $25,000. EdgeRock Capital LLC purchased a new stake in shares of Ferguson in the second quarter worth approximately $32,000. MCF Advisors LLC purchased a new stake in shares of Ferguson in the first quarter worth approximately $47,000. Brown Brothers Harriman & Co. raised its stake in shares of Ferguson by 538.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock worth $78,000 after purchasing an additional 339 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Ferguson by 2,462.5% in the second quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after purchasing an additional 394 shares during the last quarter. 81.98% of the stock is 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.