Ferguson (NASDAQ:FERG) Price Target Cut to $225.00 by Analysts at Wells Fargo & Company

Ferguson (NASDAQ:FERG) had its price objective cut by stock analysts 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 objective points to a potential upside of 9.56% from the stock’s previous close.

A number of other analysts have also recently commented on FERG. Jefferies Financial Group raised their price target on Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. UBS Group lifted their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup boosted their price target on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays boosted their price objective on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Royal Bank of Canada upped their price objective on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $231.57.

Ferguson Stock Performance

Shares of Ferguson stock traded down $1.70 during midday trading on Wednesday, hitting $205.36. The company had a trading volume of 1,808,381 shares, compared to its average volume of 1,176,785. Ferguson has a 12-month low of $147.62 and a 12-month high of $225.63. The company has a fifty day simple moving average of $204.35 and a 200 day simple moving average of $206.95. 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 has a market cap of $41.47 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The business had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same period in the previous year, the company posted $2.77 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts predict that Ferguson will post 9.63 earnings per share for the current fiscal year.

Ferguson declared that its board has initiated a share repurchase plan on Tuesday, June 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Ferguson

A number of hedge funds have recently modified their holdings of the stock. Richardson Financial Services Inc. bought a new stake in Ferguson in the fourth quarter worth $25,000. EdgeRock Capital LLC bought a new position in Ferguson in the second quarter worth about $32,000. MCF Advisors LLC bought a new position in Ferguson in the first quarter worth about $47,000. Brown Brothers Harriman & Co. raised its stake in Ferguson by 538.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 402 shares of the company’s stock worth $78,000 after buying an additional 339 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Ferguson by 2,462.5% in the second quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after purchasing an additional 394 shares during the period. 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.