Ferguson (NASDAQ:FERG) Price Target Lowered to $215.00 at Wells Fargo & Company

Ferguson (NASDAQ:FERG) had its price target decreased by Wells Fargo & Company from $220.00 to $215.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 16.54% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Citigroup upped their target price on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a research report on Wednesday, December 11th. Robert W. Baird decreased their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Berenberg Bank lifted their price objective on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Oppenheimer initiated coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.44.

Ferguson Trading Down 0.7 %

NASDAQ FERG traded down $1.21 during trading on Tuesday, hitting $184.48. The company had a trading volume of 222,782 shares, compared to its average volume of 1,309,154. The company’s fifty day moving average is $203.55 and its 200-day moving average is $202.15. Ferguson has a one year low of $183.62 and a one year high of $225.63. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The company has a market cap of $36.89 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last posted 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. The business had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a return on equity of 34.85% and a net margin of 5.68%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.77 earnings per share. On average, sell-side analysts predict that Ferguson will post 9.4 earnings per share for the current year.

Insider Buying and Selling at Ferguson

In related news, insider Ian T. Graham sold 5,778 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.27, for a total value of $1,162,938.06. Following the completion of the transaction, the insider now owns 5,938 shares of the company’s stock, valued at approximately $1,195,141.26. This represents a 49.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Victoria Morrissey sold 1,468 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the sale, the chief marketing officer now directly owns 5,205 shares in the company, valued at approximately $1,047,246. This represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,313 shares of company stock valued at $2,477,901. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Ferguson

A number of hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its stake in Ferguson by 15.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,244 shares of the company’s stock worth $2,769,000 after purchasing an additional 1,935 shares during the period. Van Lanschot Kempen Investment Management N.V. grew its stake in Ferguson by 23.1% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 236,285 shares of the company’s stock valued at $45,757,000 after acquiring an additional 44,299 shares in the last quarter. EdgeRock Capital LLC purchased a new position in Ferguson during the second quarter valued at $32,000. Moody Lynn & Lieberson LLC increased its holdings in Ferguson by 20.2% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 60,639 shares of the company’s stock valued at $11,743,000 after acquiring an additional 10,175 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its stake in Ferguson by 25.4% in the 2nd quarter. Raymond James Trust N.A. now owns 9,067 shares of the company’s stock worth $1,756,000 after purchasing an additional 1,835 shares in 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.