Ferguson (NYSE:FERG) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Ferguson (NYSE:FERG) had its price objective boosted by research analysts at Robert W. Baird from $285.00 to $288.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 9.19% from the stock’s current price.

FERG has been the topic of several other research reports. Barclays reiterated an “overweight” rating and issued a $313.00 price objective on shares of Ferguson in a research note on Tuesday. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Royal Bank Of Canada upped their price objective on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price for the company in a research note on Friday, July 17th. Finally, Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $280.00.

Ferguson Stock Performance

Shares of FERG stock opened at $263.76 on Tuesday. The firm has a market capitalization of $51.15 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.82 and a beta of 1.14. The firm has a fifty day simple moving average of $234.16 and a two-hundred day simple moving average of $240.89. Ferguson has a 12 month low of $207.64 and a 12 month high of $271.64. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Monday, August 10th. The company reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.16. The firm had revenue of $8.75 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%. Analysts forecast that Ferguson will post 11.25 EPS for the current fiscal year.

Ferguson declared that its Board of Directors has approved a share repurchase program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Ferguson

Institutional investors and hedge funds have recently bought and sold shares of the stock. Leonteq Securities AG bought a new stake in shares of Ferguson during the 4th quarter valued at about $26,000. Basepoint Wealth LLC purchased a new stake in Ferguson in the 4th quarter worth $26,000. Zions Bancorporation National Association UT grew its position in shares of Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Ferguson in the third quarter valued at $34,000. Finally, Eastern Bank bought a new position in shares of Ferguson during the second quarter valued at approximately $42,000. 81.98% of the stock is currently owned by institutional investors.

Ferguson Company Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.