Ferguson (NASDAQ:FERG) Price Target Cut to $190.00 by Analysts at Barclays

Ferguson (NASDAQ:FERG) had its target price reduced by Barclays from $211.00 to $190.00 in a report released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley initiated coverage on Ferguson in a research report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $219.00 target price on shares of Ferguson in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on Ferguson from $215.00 to $205.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Citigroup dropped their price objective on Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.64.

Ferguson Stock Performance

Shares of Ferguson stock opened at $155.94 on Wednesday. Ferguson has a one year low of $154.09 and a one year high of $225.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The company 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 business’s 50 day moving average price is $176.55 and its 200 day moving average price is $190.86.

Ferguson (NASDAQ:FERG) last posted its earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. Ferguson’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts predict that Ferguson will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, March 21st. This represents a $3.32 annualized dividend and a yield of 2.13%. Ferguson’s payout ratio is 39.86%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in Ferguson by 32.5% during the 3rd quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after purchasing an additional 7,862 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Ferguson during the 3rd quarter worth $970,000. Clean Yield Group grew its stake in Ferguson by 27.1% during the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock worth $4,506,000 after purchasing an additional 5,534 shares in the last quarter. New York Life Investment Management LLC acquired a new position in Ferguson during the 4th quarter worth $587,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Ferguson by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company’s stock worth $135,247,000 after purchasing an additional 52,776 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

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.