Ferguson (NASDAQ:FERG) Stock Rating Upgraded by Bank of America

Ferguson (NASDAQ:FERG) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat reports. The brokerage currently has a $225.00 price target on the stock, up from their previous price target of $185.00. Bank of America‘s price target indicates a potential upside of 30.75% from the company’s current price.

Several other research analysts have also recently weighed in on FERG. Barclays reduced their price objective on Ferguson from $245.00 to $234.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Oppenheimer began coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective for the company. Robert W. Baird dropped their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Citigroup decreased their price target on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, UBS Group lifted their price target on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.40.

Ferguson Trading Down 1.2 %

FERG opened at $172.08 on Wednesday. The firm has a 50-day moving average price of $196.21 and a two-hundred day moving average price of $199.26. The stock has a market capitalization of $34.41 billion, a PE ratio of 20.66, a PEG ratio of 1.90 and a beta of 1.24. Ferguson has a 1-year low of $170.99 and a 1-year high of $225.63. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89.

Insider Transactions at Ferguson

In other Ferguson news, CMO Victoria Morrissey sold 1,468 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the transaction, the chief marketing officer now directly owns 5,205 shares in the company, valued at approximately $1,047,246. This represents a 22.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Garland Williams sold 1,118 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the transaction, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 37.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,313 shares of company stock worth $2,477,901. Insiders own 0.16% of the company’s stock.

Institutional Trading of Ferguson

Several institutional investors have recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC boosted its stake in shares of Ferguson by 1.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock valued at $657,000 after purchasing an additional 57 shares during the last quarter. Transatlantique Private Wealth LLC boosted its position in Ferguson by 3.0% during the second quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock valued at $394,000 after acquiring an additional 60 shares during the last quarter. Mayflower Financial Advisors LLC grew its holdings in Ferguson by 3.2% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock worth $388,000 after acquiring an additional 61 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Ferguson by 33.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock valued at $72,000 after purchasing an additional 92 shares during the period. Finally, Commerce Bank increased its stake in shares of Ferguson by 3.8% in the 3rd quarter. Commerce Bank now owns 2,666 shares of the company’s stock valued at $529,000 after acquiring an additional 97 shares in the last quarter. 81.98% of the stock is currently 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.