Wells Fargo & Company Cuts Ferguson (NASDAQ:FERG) Price Target to $180.00

Ferguson (NASDAQ:FERG) had its target price cut by equities research analysts at Wells Fargo & Company from $205.00 to $180.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 15.96% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley initiated coverage on shares of Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price for the company. Berenberg Bank lifted their target price on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Royal Bank of Canada cut their target price on shares of Ferguson from $211.00 to $189.00 and set an “outperform” rating for the company in a research report on Wednesday. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $185.00 to $225.00 in a research report on Wednesday, January 8th. Finally, 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.64.

Ferguson Stock Performance

Shares of FERG opened at $155.23 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a market cap of $31.04 billion, a P/E ratio of 18.63, a PEG ratio of 1.69 and a beta of 1.28. The company has a 50-day moving average of $176.18 and a two-hundred day moving average of $190.62. Ferguson has a 12-month low of $152.52 and a 12-month high of $225.63.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 EPS. As a group, research analysts predict that Ferguson will post 9.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Ferguson

Institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC grew its holdings in 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. Manchester Capital Management LLC grew its holdings in Ferguson by 906.7% in the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after purchasing an additional 136 shares during the period. Peterson Financial Group Inc. purchased a new stake in Ferguson in the third quarter valued at approximately $39,000. LGT Financial Advisors LLC grew its holdings in Ferguson by 106.3% in the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock valued at $34,000 after purchasing an additional 102 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in Ferguson in the third quarter valued at approximately $40,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

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.