JPMorgan Chase & Co. Cuts Ferguson (NASDAQ:FERG) Price Target to $190.00

Ferguson (NASDAQ:FERG) had its price objective decreased by JPMorgan Chase & Co. from $205.00 to $190.00 in a report issued on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. Berenberg Bank lifted their price target on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Zelman & Associates lowered Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Robert W. Baird set a $190.00 price target on shares of Ferguson and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Citigroup dropped their price objective on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Finally, UBS Group reissued a “neutral” rating and set a $193.00 target price (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and ten 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 a consensus price target of $200.67.

Ferguson Price Performance

NASDAQ FERG opened at $162.27 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 firm has a market capitalization of $32.45 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.69 and a beta of 1.28. Ferguson has a 12-month low of $152.52 and a 12-month high of $225.63. The firm’s fifty day simple moving average is $175.01 and its two-hundred day simple moving average is $188.75.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter last year, the business posted $1.74 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Ferguson will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, March 21st. Ferguson’s dividend payout ratio is currently 40.84%.

Institutional Investors Weigh In On Ferguson

Several hedge funds and other institutional investors have recently made changes to their positions in FERG. Manchester Capital Management LLC increased its position in shares of Ferguson by 906.7% during the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after acquiring an additional 136 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after buying an additional 135 shares during the period. LGT Financial Advisors LLC raised its holdings in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock valued at $34,000 after buying an additional 102 shares during the period. Berbice Capital Management LLC acquired a new position in Ferguson during the 4th quarter worth about $35,000. Finally, Brooklyn Investment Group acquired a new position in Ferguson in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds 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.