Barclays Has Lowered Expectations for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its target price dropped by investment analysts at Barclays from $211.00 to $190.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 22.40% from the company’s previous close.

A number of other analysts have also weighed in on the company. Robert W. Baird set a $190.00 target price on Ferguson and gave the company an “outperform” rating in a research note on Wednesday. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Morgan Stanley started coverage on Ferguson in a research note on Monday, February 3rd. They issued an “overweight” rating and a $204.00 target price for the company. Citigroup lowered their target price 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, Royal Bank of Canada restated an “outperform” rating and issued a $219.00 target price on shares of Ferguson in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $201.64.

Ferguson Stock Performance

Ferguson stock opened at $155.23 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The stock has a fifty day moving average price of $176.18 and a two-hundred day moving average price of $190.62. Ferguson has a 52-week low of $152.52 and a 52-week high of $225.63. The firm has a market capitalization of $31.04 billion, a P/E ratio of 18.63, a P/E/G ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the prior year, the company earned $1.74 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Ferguson will post 9.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FERG. Integrated Wealth Concepts LLC increased its position in shares of Ferguson by 6.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company’s stock worth $211,000 after purchasing an additional 74 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Ferguson by 1.3% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock worth $1,109,000 after acquiring an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ferguson by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock worth $4,137,000 after acquiring an additional 86 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Ferguson by 33.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after acquiring an additional 92 shares during the period. Finally, Caprock Group LLC boosted its stake in shares of Ferguson by 2.8% during the 4th quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock worth $610,000 after acquiring an additional 94 shares during the period. 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.