Berenberg Bank Issues Positive Forecast for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its price target upped by stock analysts at Berenberg Bank from $224.00 to $240.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s target price points to a potential upside of 24.05% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Oppenheimer began coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $219.00 price target on shares of Ferguson in a report on Wednesday. Robert W. Baird reduced their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday. Citigroup raised their price target on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Finally, Barclays raised their price target on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $232.22.

Ferguson Trading Down 0.8 %

NASDAQ FERG traded down $1.47 during mid-day trading on Wednesday, reaching $193.47. 1,676,099 shares of the stock were exchanged, compared to its average volume of 1,303,122. Ferguson has a one year low of $180.98 and a one year high of $225.63. The stock has a 50 day simple moving average of $203.96 and a 200-day simple moving average of $202.61. The stock has a market cap of $38.84 billion, a P/E ratio of 22.68, a P/E/G ratio of 2.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The business had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter last year, the firm earned $2.77 earnings per share. Ferguson’s quarterly revenue was up 1.4% on a year-over-year basis. On average, analysts anticipate that Ferguson will post 9.77 EPS for the current year.

Insider Buying and Selling

In related news, CAO Richard Winckler sold 1,325 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.75, for a total value of $267,318.75. Following the completion of the transaction, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at approximately $201,750. This trade represents a 56.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Jacobs sold 2,624 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now directly owns 1,116 shares of the company’s stock, valued at approximately $224,271.36. This trade represents a 70.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Asset Dedication LLC purchased a new stake in Ferguson in the 3rd quarter worth approximately $27,000. True Wealth Design LLC lifted its stake in Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in Ferguson in the 2nd quarter worth approximately $32,000. Capital Performance Advisors LLP purchased a new stake in Ferguson in the 3rd quarter worth approximately $37,000. Finally, Peterson Financial Group Inc. purchased a new stake in Ferguson in the 3rd quarter worth approximately $39,000. 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.