Ferguson plc (NASDAQ:FERG) Given Average Recommendation of “Moderate Buy” by Brokerages

Ferguson plc (NASDAQ:FERG) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $217.73.

A number of analysts have recently weighed in on the stock. UBS Group reissued a “neutral” rating and set a $193.00 price target (down previously from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and raised their price target for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Berenberg Bank raised their price target on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their price target on shares of Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays decreased their price target on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th.

Ferguson Trading Down 1.5 %

FERG opened at $165.71 on Thursday. Ferguson has a 52-week low of $163.01 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 firm has a market capitalization of $33.13 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.69 and a beta of 1.28. The firm’s 50 day moving average is $177.22 and its 200-day moving average is $191.51.

Hedge Funds Weigh In On Ferguson

Several hedge funds have recently made changes to their positions in FERG. Parnassus Investments LLC grew its stake in shares of Ferguson by 944.4% in the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock worth $613,944,000 after purchasing an additional 3,198,477 shares during the last quarter. Norges Bank purchased a new position in shares of Ferguson in the fourth quarter worth approximately $469,730,000. Barclays PLC increased its position in shares of Ferguson by 208.8% in the fourth quarter. Barclays PLC now owns 2,678,880 shares of the company’s stock worth $464,973,000 after acquiring an additional 1,811,287 shares in the last quarter. FMR LLC increased its position in shares of 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 acquiring an additional 1,539,889 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Ferguson in the fourth quarter worth approximately $239,539,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Company Profile

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.