Citigroup Issues Pessimistic Forecast for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its price target lowered by research analysts at Citigroup from $221.00 to $189.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 9.83% from the stock’s current price.

FERG has been the subject of a number of other reports. Robert W. Baird dropped their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. UBS Group boosted their price target on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Wells Fargo & Company cut their price objective on Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $219.00 target price on shares of Ferguson in a report on Wednesday, December 11th. Finally, Barclays cut their price target on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.89.

Ferguson Price Performance

Ferguson stock opened at $172.08 on Monday. Ferguson has a 1 year low of $170.99 and a 1 year high of $225.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The firm has a 50 day moving average price of $196.21 and a 200 day moving average price of $199.26. The company has a market cap of $34.41 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.90 and a beta of 1.24.

Insider Transactions at Ferguson

In other news, SVP Garland Williams sold 1,118 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the transaction, the senior vice president now directly owns 1,882 shares in the company, valued at approximately $378,696.04. This represents a 37.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Richard Winckler sold 1,325 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.75, for a total transaction of $267,318.75. Following the sale, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at $201,750. The trade was a 56.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,313 shares of company stock valued at $2,477,901. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC bought a new stake in shares of Ferguson in the 3rd quarter valued at approximately $27,000. True Wealth Design LLC boosted its holdings in Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Capital Performance Advisors LLP acquired a new position in Ferguson in the third quarter worth $37,000. Peterson Financial Group Inc. bought a new stake in Ferguson during the third quarter valued at $39,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Ferguson during the third quarter worth $40,000. 81.98% of the stock is currently owned by institutional investors.

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.