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

Ferguson (NASDAQ:FERG) had its target price dropped by stock analysts at Barclays from $234.00 to $211.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 18.87% from the company’s previous close.

Several other research firms also recently commented on FERG. UBS Group reiterated a “neutral” rating and issued a $193.00 price objective (down from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Citigroup decreased their price target on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company reduced their price objective on Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Oppenheimer initiated coverage on Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $219.00 price target on shares of Ferguson in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $220.10.

Ferguson Stock Performance

Shares of NASDAQ FERG opened at $177.50 on Thursday. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $35.49 billion, a P/E ratio of 21.31, a P/E/G ratio of 1.60 and a beta of 1.24. Ferguson has a 12 month low of $167.27 and a 12 month high of $225.63. The stock has a 50 day moving average of $192.18 and a 200-day moving average of $198.21.

Institutional Trading of Ferguson

Several large investors have recently modified their holdings of FERG. Janney Montgomery Scott LLC raised its stake in Ferguson by 4.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 114,880 shares of the company’s stock valued at $19,940,000 after purchasing an additional 4,617 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ferguson by 910.3% during the 4th quarter. SG Americas Securities LLC now owns 366,015 shares of the company’s stock worth $63,529,000 after acquiring an additional 329,786 shares during the period. Simon Quick Advisors LLC boosted its position in shares of Ferguson by 12.6% during the 4th quarter. Simon Quick Advisors LLC now owns 1,276 shares of the company’s stock worth $222,000 after acquiring an additional 143 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Ferguson in the fourth quarter valued at approximately $226,000. Finally, Atomi Financial Group Inc. raised its position in Ferguson by 29.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,325 shares of the company’s stock valued at $230,000 after purchasing an additional 300 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

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.