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

Ferguson (NASDAQ:FERG) had its price objective boosted by equities research analysts at Barclays from $229.00 to $245.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 21.13% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. UBS Group boosted their price target on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group boosted their target price on Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada lifted their price objective on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Robert W. Baird lifted their price objective on Ferguson from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.00.

Ferguson Price Performance

NASDAQ:FERG traded down $4.80 during trading hours on Wednesday, hitting $202.26. 632,703 shares of the stock were exchanged, compared to its average volume of 1,172,121. The firm’s fifty day moving average price is $204.35 and its 200 day moving average price is $206.95. Ferguson has a 52-week low of $147.62 and a 52-week high of $225.63. The company has a market cap of $40.84 billion, a P/E ratio of 22.10, a P/E/G ratio of 6.13 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. 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 previous year, the business earned $2.77 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Ferguson will post 9.63 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FERG. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ferguson in the 4th quarter valued at $732,000. UBS Group AG lifted its position in Ferguson by 104.4% in the fourth quarter. UBS Group AG now owns 213,015 shares of the company’s stock valued at $41,127,000 after buying an additional 108,820 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of 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 during the last quarter. Wells Fargo & Company MN raised its stake in shares of Ferguson by 20.4% in the 4th 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 during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Ferguson by 27.8% in the 4th quarter. Clearbridge Investments LLC now owns 13,070 shares of the company’s stock worth $2,523,000 after acquiring an additional 2,841 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

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.