Ferguson (NASDAQ:FERG) Stock Price Down 3.4%

Shares of Ferguson plc (NASDAQ:FERG) dropped 3.4% during trading on Wednesday . The stock traded as low as $194.21 and last traded at $195.49. Approximately 131,701 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,108,641 shares. The stock had previously closed at $202.35.

Analyst Ratings Changes

Several research firms have commented on FERG. Barclays dropped their price target on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada cut their price target on Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. Finally, Jefferies Financial Group increased their price target on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $230.00.

Ferguson Trading Down 4.3 %

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The company’s 50-day moving average price is $203.90 and its 200-day moving average price is $207.98. The firm has a market capitalization of $39.09 billion, a PE ratio of 22.14, a PEG ratio of 6.17 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.05. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the previous year, the business earned $2.20 EPS. Ferguson’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that Ferguson plc will post 9.66 earnings per share for the current year.

Institutional Investors Weigh In On Ferguson

Several institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in Ferguson in the fourth quarter valued at $2,274,000. Victory Capital Management Inc. boosted its stake in shares of Ferguson by 92.2% during the fourth quarter. Victory Capital Management Inc. now owns 189,560 shares of the company’s stock worth $36,598,000 after buying an additional 90,931 shares during the period. New York Life Investment Management LLC purchased a new position in shares of Ferguson during the fourth quarter worth about $664,000. Benjamin F. Edwards & Company Inc. acquired a new position in Ferguson in the 4th quarter valued at about $57,000. Finally, Summit Trail Advisors LLC raised its stake in Ferguson by 17.6% during the 4th quarter. Summit Trail Advisors LLC now owns 3,130 shares of the company’s stock valued at $606,000 after acquiring an additional 469 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.