Ferguson (NASDAQ:FERG) Raised to Buy at Bank of America

Ferguson (NASDAQ:FERG) was upgraded by analysts at Bank of America from an “underperform” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $225.00 target price on the stock, up from their prior target price of $185.00. Bank of America‘s target price suggests a potential upside of 30.71% from the company’s previous close.

A number of other research firms also recently weighed in on FERG. Berenberg Bank increased their price target on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Oppenheimer assumed coverage on Ferguson in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target for the company. Citigroup cut their price objective on Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday. Robert W. Baird decreased their target price on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Finally, UBS Group boosted their price objective on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.40.

Ferguson Stock Down 0.0 %

Shares of NASDAQ:FERG opened at $172.14 on Wednesday. Ferguson has a 12-month low of $170.93 and a 12-month high of $225.63. The stock’s 50-day moving average price is $195.22 and its two-hundred day moving average price is $198.88. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The firm has a market cap of $34.42 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.90 and a beta of 1.24.

Insider Buying and Selling

In other news, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total value of $224,963.96. Following the completion of the transaction, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at approximately $378,696.04. The trade was a 37.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Victoria Morrissey sold 1,468 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.20, for a total transaction of $295,361.60. Following the sale, the chief marketing officer now owns 5,205 shares in the company, valued at approximately $1,047,246. This trade represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,313 shares of company stock worth $2,477,901. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Ferguson

Several institutional investors have recently modified their holdings of FERG. Asset Dedication LLC bought a new position in Ferguson in the 3rd quarter worth about $27,000. True Wealth Design LLC boosted its stake in Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Ferguson during the 3rd quarter valued at $37,000. Peterson Financial Group Inc. bought a new stake in shares of Ferguson in the 3rd quarter worth $39,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Ferguson in the third quarter valued at $40,000. 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.