Barclays Lowers Ferguson (NASDAQ:FERG) Price Target to $211.00

Ferguson (NASDAQ:FERG) had its price target lowered by investment analysts at Barclays from $234.00 to $211.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 18.82% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Berenberg Bank boosted their price objective on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lowered their price target on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Oppenheimer assumed coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective for the company. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and boosted their target price for the company from $185.00 to $225.00 in a report on Wednesday, January 8th. Finally, 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, December 11th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.10.

Ferguson Price Performance

Shares of Ferguson stock traded up $2.39 on Thursday, hitting $177.58. 445,987 shares of the company were exchanged, compared to its average volume of 1,381,844. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average price of $192.86 and a 200 day moving average price of $198.36. The stock has a market capitalization of $35.51 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. Ferguson has a 1-year low of $167.27 and a 1-year high of $225.63.

Hedge Funds Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently bought and sold shares of FERG. Asset Dedication LLC acquired a new stake in shares of Ferguson during the third quarter worth about $27,000. True Wealth Design LLC increased its stake in Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after buying an additional 135 shares during the period. Capital Performance Advisors LLP acquired a new stake in Ferguson during the 3rd quarter worth approximately $37,000. Peterson Financial Group Inc. purchased a new position in Ferguson in the 3rd quarter valued at approximately $39,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Ferguson in the third quarter worth $40,000. 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.