Ferguson (NASDAQ:FERG) Price Target Raised to $190.00

Ferguson (NASDAQ:FERG - Get Free Report) had its price target increased by investment analysts at Wells Fargo & Company from $180.00 to $190.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 15.66% from the company's current price.

A number of other equities research analysts also recently issued reports on FERG. Zelman & Associates downgraded shares of Ferguson from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on Ferguson from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferguson in a research note on Tuesday, April 1st. They set a "hold" rating and a $174.00 price objective for the company. Wolfe Research began coverage on shares of Ferguson in a research report on Monday, March 17th. They set a "peer perform" rating on the stock. Finally, Barclays decreased their target price on Ferguson from $211.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $199.38.

Ferguson Stock Performance

NASDAQ:FERG traded up $1.89 during trading hours on Monday, reaching $164.28. 1,604,932 shares of the company's stock were exchanged, compared to its average volume of 1,560,519. The firm has a market capitalization of $32.85 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.69 and a beta of 1.17. Ferguson has a 1-year low of $146.00 and a 1-year high of $225.63. The company has a 50-day moving average of $167.02 and a 200 day moving average of $183.54. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period in the prior year, the business earned $1.74 earnings per share. Ferguson's revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts anticipate that Ferguson will post 9.4 EPS for the current year.

Institutional Trading of Ferguson

Institutional investors and hedge funds have recently modified their holdings of the company. Clarius Group LLC boosted its holdings in Ferguson by 65.4% during the first quarter. Clarius Group LLC now owns 2,790 shares of the company's stock valued at $446,000 after acquiring an additional 1,103 shares during the period. Grove Bank & Trust increased its position in Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after buying an additional 141 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Ferguson by 4.2% during the first quarter. Janney Montgomery Scott LLC now owns 119,688 shares of the company's stock worth $19,178,000 after buying an additional 4,808 shares during the last quarter. Mission Wealth Management LP boosted its position in shares of Ferguson by 2.2% in the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock valued at $489,000 after acquiring an additional 67 shares during the period. Finally, James Hambro & Partners LLP increased its position in Ferguson by 1.1% during the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock worth $1,011,000 after acquiring an additional 70 shares during the period. 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.