Barclays Forecasts Strong Price Appreciation for Ferguson (NASDAQ:FERG) Stock

Ferguson (NASDAQ:FERG) had its target price upped by Barclays from $190.00 to $247.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 16.84% from the company’s current price.

Other analysts also recently issued research reports about the stock. Wolfe Research initiated coverage on shares of Ferguson in a report on Monday, March 17th. They issued a “peer perform” rating for the company. Wells Fargo & Company increased their price objective on shares of Ferguson from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, April 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $189.00 price objective on shares of Ferguson in a report on Tuesday, March 18th. Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the company an “outperform” rating in a report on Wednesday, March 12th. Finally, Citigroup cut their price objective on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $204.54.

Ferguson Stock Performance

Shares of FERG opened at $211.41 on Wednesday. The stock has a 50-day moving average of $170.30 and a two-hundred day moving average of $177.80. Ferguson has a one year low of $146.00 and a one year high of $225.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The stock has a market cap of $42.27 billion, a P/E ratio of 25.38, a P/E/G ratio of 1.69 and a beta of 1.14.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. Ferguson’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $2.32 EPS. As a group, research analysts predict that Ferguson will post 9.4 EPS for the current year.

Hedge Funds Weigh In On Ferguson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Focus Partners Wealth boosted its position in Ferguson by 22.7% in the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after buying an additional 581 shares during the period. SCS Capital Management LLC purchased a new position in Ferguson in the 1st quarter valued at approximately $435,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Ferguson by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,932,959 shares of the company’s stock valued at $309,718,000 after buying an additional 205,531 shares during the period. Zimmer Partners LP purchased a new stake in shares of Ferguson during the 1st quarter worth $3,605,000. Finally, Rivermont Capital Management LP lifted its position in shares of Ferguson by 60.0% during the 1st quarter. Rivermont Capital Management LP now owns 99,279 shares of the company’s stock worth $15,907,000 after purchasing an additional 37,227 shares during the last quarter. Hedge funds and other institutional investors 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.