Citigroup Has Lowered Expectations for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its price target dropped by analysts at Citigroup from $221.00 to $189.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 9.83% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. UBS Group upped 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, September 18th. 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 for the company. Robert W. Baird dropped their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price target on Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson has a consensus rating of “Moderate Buy” and a consensus target price of $226.89.

Ferguson Price Performance

Shares of FERG opened at $172.08 on Monday. Ferguson has a 12 month low of $170.99 and a 12 month high of $225.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. The stock has a fifty day moving average price of $196.21 and a 200 day moving average price of $199.26. The company has a market cap of $34.41 billion, a P/E ratio of 20.66, a PEG ratio of 1.90 and a beta of 1.24.

Insider Buying and Selling at Ferguson

In other Ferguson news, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the completion of the sale, the vice president now directly owns 1,116 shares of the company’s stock, valued at approximately $224,271.36. This represents a 70.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ian T. Graham sold 5,778 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the transaction, the insider now owns 5,938 shares of the company’s stock, valued at approximately $1,195,141.26. This trade represents a 49.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC boosted its stake in shares of Ferguson by 1.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock worth $657,000 after acquiring an additional 57 shares in the last quarter. Transatlantique Private Wealth LLC lifted its holdings in shares of Ferguson by 3.0% during the second quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock valued at $394,000 after purchasing an additional 60 shares during the last quarter. Mayflower Financial Advisors LLC boosted its position in shares of Ferguson by 3.2% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock valued at $388,000 after purchasing an additional 61 shares during the period. Farther Finance Advisors LLC increased its stake in Ferguson by 33.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after purchasing an additional 92 shares in the last quarter. Finally, Commerce Bank raised its holdings in Ferguson by 3.8% during the 3rd quarter. Commerce Bank now owns 2,666 shares of the company’s stock worth $529,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds 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.