Ferguson (NASDAQ:FERG) Downgraded by Zacks Investment Research to “Hold”


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Ferguson (NASDAQ:FERG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Ferguson plc is a distributor of plumbing and heating products to professional contractors and consumers primarily in the USA, UK, Nordics, Canada and Central Europe. Ferguson plc, formerly known as Wolseley plc, is headquartered in Zug, Switzerland. “

Several other analysts have also recently weighed in on FERG. Royal Bank of Canada restated a “sector perform” rating on shares of Ferguson in a report on Wednesday, March 17th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, March 17th. Berenberg Bank reaffirmed a “sell” rating on shares of Ferguson in a research report on Thursday, March 18th. Credit Suisse Group reissued a “neutral” rating on shares of Ferguson in a research report on Thursday, March 18th. Finally, Barclays restated an “overweight” rating on shares of Ferguson in a research report on Wednesday, March 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $145.00.

Shares of Ferguson stock traded down $1.62 during midday trading on Tuesday, hitting $129.08. 12,962 shares of the company traded hands, compared to its average volume of 27,749. Ferguson has a 12 month low of $116.70 and a 12 month high of $131.14.

Hedge funds have recently added to or reduced their stakes in the company. Private Capital Group LLC acquired a new position in shares of Ferguson during the first quarter worth approximately $57,000. Harbor Investment Advisory LLC bought a new stake in Ferguson during the 1st quarter valued at $132,000. Finally, Mountain Capital Investment Advisors Inc acquired a new position in Ferguson during the first quarter worth $450,000.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States, the United Kingdom, Canada, and Central Europe. It offers plumbing and heating solutions to customers in the residential, municipal, civil and industrial markets, and commercial sectors for repair, maintenance, and improvement (RMI), as well as new construction markets.

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