Ferguson (NASDAQ:FERG) Price Target Cut to $225.00

Ferguson (NASDAQ:FERG) had its target price dropped by equities researchers at Wells Fargo & Company from $250.00 to $225.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 8.07% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird raised their target price on shares of Ferguson from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group lifted their target price on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup increased their price target on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Barclays increased their price objective on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.57.

Ferguson Stock Up 1.3 %

NASDAQ:FERG opened at $208.19 on Wednesday. Ferguson has a twelve month low of $147.62 and a twelve month high of $225.63. The firm has a market capitalization of $42.04 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average price is $204.62 and its two-hundred day moving average price is $206.94.

Ferguson (NASDAQ:FERG) last issued 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 6.33% and a return on equity of 36.89%. The business had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same period in the previous year, the company earned $2.77 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts expect that Ferguson will post 9.63 earnings per share for the current fiscal year.

Ferguson announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Ferguson

Hedge funds have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. acquired a new stake in shares of Ferguson during the 4th quarter worth $25,000. EdgeRock Capital LLC acquired a new stake in Ferguson during the second quarter worth about $32,000. MCF Advisors LLC bought a new position in Ferguson in the 1st quarter valued at about $47,000. Brown Brothers Harriman & Co. raised its position in shares of Ferguson by 538.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock valued at $78,000 after buying an additional 339 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Ferguson by 2,462.5% in the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock valued at $79,000 after buying an additional 394 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Company Profile

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.