Ferguson (NASDAQ:FERG) Price Target Lowered to $190.00 at JPMorgan Chase & Co.

Ferguson (NASDAQ:FERG - Free Report) had its target price cut by JPMorgan Chase & Co. from $205.00 to $190.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on FERG. Morgan Stanley initiated coverage on shares of Ferguson in a research note on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price target for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $189.00 price target on shares of Ferguson in a research note on Tuesday, March 18th. Barclays lowered their price target on shares of Ferguson from $211.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Citigroup lowered their price target on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Finally, Oppenheimer lowered their price target on shares of Ferguson from $234.00 to $189.00 and set an "outperform" rating for the company in a research note on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $200.67.

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Ferguson Price Performance

Shares of NASDAQ FERG traded down $1.63 during mid-day trading on Wednesday, reaching $162.27. 3,873,435 shares of the company were exchanged, compared to its average volume of 1,434,426. Ferguson has a 52 week low of $152.52 and a 52 week high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $32.45 billion, a PE ratio of 19.48, a PEG ratio of 1.69 and a beta of 1.28. The company's 50 day moving average price is $175.01 and its 200 day moving average price is $188.61.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $6.76 billion. During the same period in the prior year, the firm posted $1.74 earnings per share. The business's revenue was up 3.0% on a year-over-year basis. Sell-side analysts forecast that Ferguson will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, March 21st. Ferguson's payout ratio is currently 40.84%.

Hedge Funds Weigh In On Ferguson

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in Ferguson by 18.2% in the fourth quarter. FMR LLC now owns 10,007,892 shares of the company's stock worth $1,740,049,000 after buying an additional 1,539,889 shares in the last quarter. Invesco Ltd. raised its stake in Ferguson by 25.9% in the fourth quarter. Invesco Ltd. now owns 5,991,445 shares of the company's stock worth $1,039,935,000 after buying an additional 1,231,120 shares in the last quarter. Janus Henderson Group PLC raised its stake in Ferguson by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock worth $856,746,000 after buying an additional 62,887 shares in the last quarter. State Street Corp raised its stake in Ferguson by 3.7% in the third quarter. State Street Corp now owns 4,541,079 shares of the company's stock worth $905,230,000 after buying an additional 161,662 shares in the last quarter. Finally, Parnassus Investments LLC raised its stake in Ferguson by 944.4% in the fourth quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock worth $613,944,000 after buying an additional 3,198,477 shares in the last quarter. 81.98% of the stock is 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.