JPMorgan Chase & Co. Lowers Ferguson (NASDAQ:FERG) Price Target to $190.00

Ferguson (NASDAQ:FERG) had its target price lowered by research analysts at JPMorgan Chase & Co. from $205.00 to $190.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 15.98% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Berenberg Bank boosted their price objective on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird set a $190.00 price target on Ferguson and gave the company an “outperform” rating in a research report on Wednesday, March 12th. Wells Fargo & Company dropped their price target on Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Zelman & Associates cut Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and upped their price target for the company from $185.00 to $225.00 in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.67.

Ferguson Stock Down 0.5 %

FERG stock opened at $163.83 on Wednesday. The stock’s fifty day simple moving average is $175.16 and its two-hundred day simple moving average is $189.05. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson has a 1-year low of $152.52 and a 1-year high of $225.63. The stock has a market cap of $32.76 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share 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 business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same period in the prior year, the firm posted $1.74 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts expect that Ferguson will post 9.4 EPS for the current year.

Hedge Funds Weigh In On Ferguson

A number of institutional investors have recently added to or reduced their stakes in FERG. Parnassus Investments LLC increased its stake in Ferguson by 944.4% in the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock worth $613,944,000 after acquiring an additional 3,198,477 shares during the last quarter. Norges Bank bought a new position in Ferguson in the 4th quarter worth about $469,730,000. Barclays PLC increased its stake in Ferguson by 208.8% in the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company’s stock worth $464,973,000 after acquiring an additional 1,811,287 shares during the last quarter. FMR LLC increased its stake in Ferguson by 18.2% in the 4th quarter. FMR LLC now owns 10,007,892 shares of the company’s stock worth $1,740,049,000 after acquiring an additional 1,539,889 shares during the last quarter. Finally, Schroder Investment Management Group bought a new position in Ferguson in the 4th quarter worth about $239,539,000. 81.98% of the stock is currently 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.