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

Ferguson (NASDAQ:FERG) had its price target boosted by Barclays from $229.00 to $245.00 in a research note released on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on FERG. Robert W. Baird raised their price objective on shares of Ferguson from $222.00 to $225.00 and gave the stock an outperform rating in a report on Wednesday. UBS Group raised their price objective on shares of Ferguson from $228.00 to $236.00 and gave the stock a buy rating in a report on Wednesday. Jefferies Financial Group raised their price objective on shares of Ferguson from $238.00 to $250.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their target price on shares of Ferguson from $211.00 to $219.00 and gave the stock an outperform rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $231.57.

Ferguson Stock Down 5.6 %

FERG opened at $196.52 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The company’s 50-day moving average is $204.88 and its 200 day moving average is $206.95. Ferguson has a fifty-two week low of $147.62 and a fifty-two week high of $225.63. The firm has a market capitalization of $39.69 billion, a P/E ratio of 21.48, a PEG ratio of 6.13 and a beta of 1.21.

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

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.61%. Ferguson’s dividend payout ratio is currently 34.54%.

Ferguson declared that its Board of Directors has approved a stock repurchase plan on Tuesday, June 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Ferguson

Several hedge funds have recently bought and sold shares of FERG. Dynamic Technology Lab Private Ltd purchased a new position in Ferguson during the fourth quarter valued at approximately $732,000. UBS Group AG grew its stake in Ferguson by 104.4% during the fourth quarter. UBS Group AG now owns 213,015 shares of the company’s stock valued at $41,127,000 after acquiring an additional 108,820 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in Ferguson by 5.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,989 shares of the company’s stock valued at $384,000 after acquiring an additional 109 shares in the last quarter. Wells Fargo & Company MN grew its stake in Ferguson by 20.4% during the fourth quarter. Wells Fargo & Company MN now owns 348,610 shares of the company’s stock valued at $67,306,000 after acquiring an additional 59,185 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Ferguson by 27.8% during the fourth quarter. Clearbridge Investments LLC now owns 13,070 shares of the company’s stock valued at $2,523,000 after acquiring an additional 2,841 shares in the last quarter. Hedge funds and other institutional investors 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.