Ferguson (NASDAQ:FERG) PT Raised to $245.00 at Barclays

Ferguson (NASDAQ:FERG) had its price objective increased by research analysts at Barclays from $229.00 to $245.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 17.68% from the company’s current price.

FERG has been the subject of a number of other reports. UBS Group lifted 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. Royal Bank of Canada lifted their price objective on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group lifted 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, Robert W. Baird lifted 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $231.57.

Ferguson Stock Up 1.3 %

Shares of NASDAQ:FERG opened at $208.19 on Wednesday. The firm has a fifty day moving average price of $204.62 and a two-hundred day moving average price of $206.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. Ferguson has a one year low of $147.62 and a one year high of $225.63. The company has a market cap of $42.04 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, beating the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The firm had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same period last year, the firm earned $2.77 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. Analysts anticipate that Ferguson will post 9.63 EPS for the current fiscal year.

Ferguson declared that its board has initiated a share repurchase plan on Tuesday, June 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Ferguson

A number of hedge funds have recently modified their holdings of FERG. Bank of New York Mellon Corp increased its position in shares of Ferguson by 375.4% in the second quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after acquiring an additional 4,966,821 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Ferguson by 589.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock valued at $353,778,000 after acquiring an additional 1,384,570 shares during the period. Capital World Investors purchased a new position in shares of Ferguson in the first quarter valued at about $104,723,000. APG Asset Management US Inc. purchased a new position in shares of Ferguson in the fourth quarter valued at about $89,758,000. Finally, Robeco Schweiz AG bought a new stake in shares of Ferguson during the 4th quarter valued at about $61,782,000. 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.