Oppenheimer Cuts Ferguson (NASDAQ:FERG) Price Target to $189.00

Ferguson (NASDAQ:FERG) had its target price cut by Oppenheimer from $234.00 to $189.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also issued reports on FERG. Royal Bank of Canada restated an “outperform” rating and issued a $219.00 price target on shares of Ferguson in a research report on Wednesday, December 11th. Citigroup dropped their price target on Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays dropped their price target on Ferguson from $234.00 to $211.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. UBS Group reaffirmed a “neutral” rating and issued a $193.00 price target (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Finally, Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and upped their price target for the company from $185.00 to $225.00 in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson has a consensus rating of “Moderate Buy” and an average price target of $201.64.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $155.94 on Wednesday. Ferguson has a 12 month low of $154.09 and a 12 month high of $225.63. The stock has a market cap of $31.18 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.69 and a beta of 1.28. The stock’s 50 day moving average price is $176.55 and its 200 day moving average price is $190.86. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, March 11th. The company reported $1.52 EPS 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 firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.76 billion. During the same period in the previous year, the firm earned $1.74 EPS. Ferguson’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts anticipate 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 issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio is currently 39.86%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its stake in shares of Ferguson by 6.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company’s stock worth $211,000 after acquiring an additional 74 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Ferguson by 1.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock worth $1,109,000 after purchasing an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ferguson by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock worth $4,137,000 after purchasing an additional 86 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Ferguson by 33.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock valued at $72,000 after buying an additional 92 shares during the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Ferguson by 2.8% during the 4th quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock valued at $610,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

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.