Berenberg Bank Issues Positive Forecast for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its target price lifted by stock analysts at Berenberg Bank from $224.00 to $240.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price target suggests a potential upside of 24.05% from the company’s previous close.

Other analysts have also issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $219.00 target price on shares of Ferguson in a report on Wednesday. UBS Group boosted their price target on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Robert W. Baird decreased their price target on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday. Oppenheimer assumed coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target for the company. Finally, Barclays upped their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $232.22.

Ferguson Price Performance

Shares of NASDAQ:FERG traded down $1.47 during trading on Wednesday, reaching $193.47. The stock had a trading volume of 1,676,099 shares, compared to its average volume of 1,303,122. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. The business’s 50-day moving average price is $203.96 and its 200 day moving average price is $202.61. Ferguson has a 52 week low of $180.98 and a 52 week high of $225.63. The stock has a market capitalization of $38.84 billion, a PE ratio of 22.68, a P/E/G ratio of 2.11 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The firm had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter in the previous year, the company posted $2.77 EPS. Ferguson’s revenue was up 1.4% on a year-over-year basis. As a group, equities analysts predict that Ferguson will post 9.77 earnings per share for the current year.

Insiders Place Their Bets

In other Ferguson news, VP Michael Jacobs sold 2,624 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the transaction, the vice president now owns 1,116 shares in the company, valued at $224,271.36. This represents a 70.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Victoria Morrissey sold 1,468 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.20, for a total transaction of $295,361.60. Following the sale, the chief marketing officer now owns 5,205 shares in the company, valued at $1,047,246. This represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock worth $2,477,901 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Ferguson

Several institutional investors and hedge funds have recently added to or reduced their stakes in FERG. Bank of New York Mellon Corp lifted its stake in Ferguson by 375.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after purchasing an additional 4,966,821 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Ferguson by 423.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after acquiring an additional 1,183,143 shares during the last quarter. Southpoint Capital Advisors LP raised its stake in shares of Ferguson by 133.3% during the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock valued at $138,999,000 after acquiring an additional 400,000 shares during the last quarter. Barclays PLC raised its stake in shares of Ferguson by 76.9% during the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock valued at $172,281,000 after acquiring an additional 377,283 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Ferguson during the third quarter valued at $63,420,000. 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.