Morgan Stanley Begins Coverage on Ferguson (NASDAQ:FERG)

Investment analysts at Morgan Stanley started coverage on shares of Ferguson (NASDAQ:FERG) in a report issued on Monday, MarketBeat reports. The firm set an “overweight” rating and a $204.00 price target on the stock. Morgan Stanley’s target price points to a potential upside of 13.65% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. Citigroup cut their price objective on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Barclays decreased their target price on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Zelman & Associates downgraded shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, UBS Group restated 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average price target of $217.73.

Ferguson Stock Performance

Ferguson stock opened at $179.51 on Monday. Ferguson has a twelve month low of $167.27 and a twelve month high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $35.89 billion, a P/E ratio of 21.55, a PEG ratio of 1.71 and a beta of 1.24. The stock’s 50 day moving average is $185.73 and its 200 day moving average is $196.68.

Hedge Funds Weigh In On Ferguson

A number of institutional investors and hedge funds have recently modified their holdings of FERG. Waverton Investment Management Ltd lifted its holdings in Ferguson by 15.1% in the fourth quarter. Waverton Investment Management Ltd now owns 1,011,334 shares of the company’s stock valued at $175,537,000 after acquiring an additional 132,626 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Ferguson during the 4th quarter valued at about $408,000. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in shares of Ferguson during the 4th quarter valued at about $6,873,000. Fisher Funds Management LTD bought a new position in shares of Ferguson in the 4th quarter worth approximately $16,761,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Ferguson by 0.5% in the fourth quarter. Allianz Asset Management GmbH now owns 415,038 shares of the company’s stock worth $72,038,000 after buying an additional 2,005 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

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.