Ferguson (NASDAQ:FERG) Given New $230.00 Price Target at Robert W. Baird

Ferguson (NASDAQ:FERG) had its target price raised by stock analysts at Robert W. Baird from $225.00 to $230.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 14.94% from the company’s previous close.

Several other equities analysts have also issued reports on FERG. Jefferies Financial Group boosted their price target on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Citigroup lifted their target price on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. UBS Group increased their price objective on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada boosted their price target on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company decreased their target price on Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $232.29.

Ferguson Stock Down 0.6 %

Shares of NASDAQ FERG opened at $200.11 on Wednesday. The stock’s fifty day moving average is $200.33 and its 200 day moving average is $205.30. Ferguson has a 52 week low of $147.62 and a 52 week high of $225.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The stock has a market capitalization of $40.17 billion, a P/E ratio of 23.46, a PEG ratio of 3.37 and a beta of 1.20.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The company had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same period in the prior year, the business earned $2.77 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts forecast that Ferguson will post 9.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ferguson

A number of hedge funds have recently added to or reduced their stakes in FERG. Wellington Management Group LLP bought a new position in Ferguson in the 4th quarter worth $32,536,000. GAMMA Investing LLC raised its stake in Ferguson by 13.1% during the first quarter. GAMMA Investing LLC now owns 2,052 shares of the company’s stock valued at $448,000 after purchasing an additional 237 shares in the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of Ferguson by 4.1% in the 1st quarter. Banque Cantonale Vaudoise now owns 25,485 shares of the company’s stock valued at $5,566,000 after acquiring an additional 1,003 shares during the last quarter. American National Bank lifted its stake in shares of Ferguson by 239.0% in the 1st quarter. American National Bank now owns 2,492 shares of the company’s stock valued at $544,000 after purchasing an additional 1,757 shares during the last quarter. Finally, Gulf International Bank UK Ltd lifted its position in Ferguson by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 16,887 shares of the company’s stock worth $3,688,000 after buying an additional 106 shares during the last quarter. 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.