Barclays Raises Ferguson (NASDAQ:FERG) Price Target to $245.00

Ferguson (NASDAQ:FERG) had its price target raised by investment analysts at Barclays from $229.00 to $245.00 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 21.13% from the company’s current price.

FERG has been the subject of a number of other research reports. UBS Group lifted their price target on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird lifted their target price on Ferguson from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank of Canada increased their price target on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Jefferies Financial Group raised their price target on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.00.

Ferguson Stock Performance

Shares of Ferguson stock traded down $4.80 during midday trading on Wednesday, hitting $202.26. The company had a trading volume of 632,703 shares, compared to its average volume of 1,172,121. The stock has a market cap of $40.84 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 6.13 and a beta of 1.21. Ferguson has a 12-month low of $147.62 and a 12-month high of $225.63. 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 company has a fifty day simple moving average of $204.35 and a 200 day simple moving average of $206.95.

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

Ferguson announced that its Board of Directors has initiated a share buyback program on Tuesday, June 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Ferguson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new position in shares of Ferguson in the 4th quarter valued at about $25,000. EdgeRock Capital LLC purchased a new stake in shares of Ferguson in the second quarter valued at approximately $32,000. MCF Advisors LLC acquired a new position in shares of Ferguson during the 1st quarter worth approximately $47,000. Brown Brothers Harriman & Co. lifted its position in shares of Ferguson by 538.1% during 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 grew its stake in 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 acquiring an additional 394 shares during the period. Institutional investors and hedge funds 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.