Ferguson (NASDAQ:FERG) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Ferguson (NASDAQ:FERG) had its target price upped by analysts at Berenberg Bank from $224.00 to $240.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s price objective would indicate a potential upside of 26.08% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Citigroup lifted their price target on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and set a $219.00 target price on shares of Ferguson in a research note on Wednesday. Robert W. Baird lowered their target price on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays lifted their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company lowered their target price on shares of Ferguson from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.00.

Ferguson Stock Performance

Shares of Ferguson stock opened at $190.35 on Wednesday. The firm has a market capitalization of $38.21 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.90 and a beta of 1.21. The company’s 50 day moving average price is $203.89 and its two-hundred day moving average price is $202.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. Ferguson has a fifty-two week low of $180.98 and a fifty-two week high of $225.63.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. The company had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.85%. Ferguson’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.77 earnings per share. On average, equities analysts forecast that Ferguson will post 9.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Richard Winckler sold 1,325 shares of Ferguson stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.75, for a total transaction of $267,318.75. Following the completion of the transaction, the chief accounting officer now directly owns 1,000 shares in the company, valued at $201,750. This trade represents a 56.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Victoria Morrissey sold 1,468 shares of Ferguson stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.20, for a total transaction of $295,361.60. Following the transaction, the chief marketing officer now owns 5,205 shares of the company’s stock, valued at $1,047,246. This represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock worth $2,477,901 over the last three months. 0.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FERG. Asset Dedication LLC purchased a new position in Ferguson in the third quarter valued at about $27,000. True Wealth Design LLC raised its position in shares of Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. EdgeRock Capital LLC bought a new stake in shares of Ferguson in the second quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new stake in shares of Ferguson in the third quarter valued at approximately $37,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Ferguson in the third quarter valued at approximately $39,000. 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.