Ferguson (NASDAQ:FERG) Price Target Lowered to $189.00 at Royal Bank of Canada

Ferguson (NASDAQ:FERG) had its price objective cut by research analysts at Royal Bank of Canada from $211.00 to $189.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 21.37% from the company’s previous close.

A number of other research analysts have also weighed in on FERG. Zelman & Associates lowered shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the company an “outperform” rating in a research report on Wednesday. Wells Fargo & Company reduced their target price on shares of Ferguson from $215.00 to $205.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and lifted their price target for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Finally, Barclays reduced their price objective on Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average price target of $203.55.

Ferguson Trading Down 0.8 %

Shares of FERG traded down $1.25 during trading hours on Wednesday, reaching $155.73. The stock had a trading volume of 550,425 shares, compared to its average volume of 1,821,525. The firm has a 50-day moving average of $176.90 and a 200 day moving average of $191.11. 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 cap of $31.14 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.69 and a beta of 1.28. Ferguson has a 52 week low of $154.09 and a 52 week high of $225.63.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter last year, the company earned $1.74 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that Ferguson will post 9.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ferguson

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its stake in shares of Ferguson by 6.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company’s stock valued at $211,000 after buying an additional 74 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Ferguson by 1.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock valued at $1,109,000 after acquiring an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ferguson by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock worth $4,137,000 after purchasing an additional 86 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Ferguson by 33.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock valued at $72,000 after purchasing an additional 92 shares during the period. Finally, Caprock Group LLC lifted its stake in Ferguson by 2.8% in the 4th quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock valued at $610,000 after purchasing an additional 94 shares during the last quarter. 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.