Ferguson (NASDAQ:FERG) Price Target Lowered to $205.00 at Wells Fargo & Company

Ferguson (NASDAQ:FERG) had its price objective decreased by stock analysts at Wells Fargo & Company from $215.00 to $205.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 11.98% from the company’s previous close.

FERG has been the topic of several other research reports. Berenberg Bank upped their price objective on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Oppenheimer began coverage on Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target for the company. Robert W. Baird decreased their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Morgan Stanley began coverage on shares of Ferguson in a report on Monday. They set an “overweight” rating and a $204.00 price objective on the stock. Finally, Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and increased their target price for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.73.

Ferguson Stock Performance

FERG traded down $0.86 during midday trading on Tuesday, reaching $183.06. The company had a trading volume of 72,115 shares, compared to its average volume of 1,499,491. Ferguson has a 12-month low of $167.27 and a 12-month high of $225.63. The business has a 50-day moving average price of $186.39 and a two-hundred day moving average price of $196.88. The stock has a market cap of $36.60 billion, a PE ratio of 22.00, a P/E/G ratio of 1.71 and a beta of 1.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

Institutional Trading of Ferguson

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Ferguson by 303.7% in the third quarter. CWM LLC now owns 4,550 shares of the company’s stock worth $904,000 after purchasing an additional 3,423 shares during the period. Principal Financial Group Inc. grew its position in Ferguson by 32.5% during the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after buying an additional 7,862 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Ferguson during the third quarter worth about $970,000. Clean Yield Group increased its stake in Ferguson by 27.1% in the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock worth $4,506,000 after acquiring an additional 5,534 shares during the last quarter. Finally, Entropy Technologies LP raised its holdings in shares of Ferguson by 66.2% in the 3rd quarter. Entropy Technologies LP now owns 51,647 shares of the company’s stock valued at $10,256,000 after acquiring an additional 20,580 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

About Ferguson

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.