Ferguson (NASDAQ:FERG) Price Target Raised to $232.00 at Wells Fargo & Company

Ferguson (NASDAQ:FERG) had its target price lifted by equities researchers at Wells Fargo & Company from $225.00 to $232.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 10.97% from the stock’s previous close.

Other research analysts also recently issued reports about the company. UBS Group raised their price objective on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada lifted their price target on shares of Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Barclays boosted their price objective on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Jefferies Financial Group raised their target price on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Citigroup boosted their target price on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $233.38.

Ferguson Stock Down 0.9 %

FERG stock traded down $1.86 during trading hours on Thursday, hitting $209.06. The company’s stock had a trading volume of 135,095 shares, compared to its average volume of 1,264,323. The stock has a 50 day moving average price of $198.49 and a two-hundred day moving average price of $203.41. Ferguson has a 12 month low of $154.61 and a 12 month high of $225.63. The company has a market capitalization of $41.97 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data 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. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The firm had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period in the prior year, the company posted $2.77 earnings per share. Ferguson’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts expect that Ferguson will post 9.77 earnings per share for the current year.

Insider Activity at Ferguson

In other Ferguson news, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was 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 owns 1,882 shares of the company’s stock, valued at $378,696.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Richard Winckler sold 1,325 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.75, for a total value of $267,318.75. Following the sale, the chief accounting officer now owns 1,000 shares of the company’s stock, valued at $201,750. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Garland Williams sold 1,118 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.22, for a total transaction 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 $378,696.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,313 shares of company stock worth $2,477,901. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Ferguson

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ferguson by 10.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,757 shares of the company’s stock valued at $4,752,000 after buying an additional 2,077 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Ferguson by 5.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 16,663 shares of the company’s stock valued at $3,640,000 after acquiring an additional 867 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Ferguson by 1.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,142 shares of the company’s stock valued at $686,000 after purchasing an additional 57 shares in the last quarter. Forsta AP Fonden grew its holdings in shares of Ferguson by 18.3% in the 1st quarter. Forsta AP Fonden now owns 73,100 shares of the company’s stock worth $15,967,000 after purchasing an additional 11,300 shares during the last quarter. Finally, Susquehanna International Group Ltd. acquired a new stake in shares of Ferguson during the 1st quarter worth about $390,000. 81.98% of the stock is owned by institutional investors and hedge funds.

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.