Ferguson (NASDAQ:FERG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Ferguson (NASDAQ:FERG) had its price objective upped by analysts at Wells Fargo & Company from $180.00 to $190.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 13.67% from the company’s previous close.

Other research analysts also recently issued reports about the stock. 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. Oppenheimer dropped 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. Citigroup reduced their price objective on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their target price on shares of Ferguson from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, March 19th. Finally, Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and increased their price target for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and a consensus target price of $199.38.

Ferguson Price Performance

Shares of Ferguson stock traded up $2.42 during midday trading on Monday, reaching $167.15. The company had a trading volume of 98,017 shares, compared to its average volume of 1,554,423. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $168.30 and a 200 day simple moving average of $184.30. Ferguson has a 1-year low of $146.00 and a 1-year high of $225.63. The company has a market capitalization of $33.42 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG) last released 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 net margin of 5.68% and a return on equity of 34.63%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same period last year, the business posted $1.74 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts forecast that Ferguson will post 9.4 earnings per share for the current year.

Institutional Investors Weigh In On Ferguson

Several large investors have recently made changes to their positions in FERG. Integrated Wealth Concepts LLC increased its holdings in Ferguson by 6.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company’s stock worth $211,000 after purchasing an additional 74 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Ferguson by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock worth $1,109,000 after buying an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Ferguson by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock valued at $4,137,000 after buying an additional 86 shares during the last quarter. Caprock Group LLC lifted its stake in Ferguson by 2.8% in the 4th quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock valued at $610,000 after acquiring an additional 94 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Ferguson by 41.1% during the 4th quarter. Assetmark Inc. now owns 333 shares of the company’s stock worth $58,000 after acquiring an additional 97 shares during the last quarter. Institutional investors 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.