Royal Bank of Canada Cuts Ferguson (NASDAQ:FERG) Price Target to $189.00

Ferguson (NASDAQ:FERG) had its price objective decreased by Royal Bank of Canada from $211.00 to $189.00 in a research note issued to investors on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

FERG has been the subject of a number of other research reports. Zelman & Associates downgraded shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. Berenberg Bank lifted their target price on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Citigroup reduced their target price on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Morgan Stanley assumed coverage on shares of Ferguson in a report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.64.

Ferguson Stock Down 0.7 %

Ferguson stock opened at $155.94 on Wednesday. The company has a market cap of $31.18 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. Ferguson has a 1-year low of $154.09 and a 1-year high of $225.63. The company has a fifty day simple moving average of $176.55 and a 200 day simple moving average of $190.86. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same period last year, the business earned $1.74 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Research analysts anticipate that Ferguson will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is 39.86%.

Institutional Trading of Ferguson

Several hedge funds and other institutional investors have recently bought and sold shares of FERG. Manchester Capital Management LLC raised its stake in Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after purchasing an additional 136 shares in the last quarter. True Wealth Design LLC raised its stake in Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. LGT Financial Advisors LLC raised its stake in Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock worth $34,000 after purchasing an additional 102 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in Ferguson in the 4th quarter worth about $35,000. Finally, Peterson Financial Group Inc. acquired a new stake in Ferguson in the 3rd quarter worth about $39,000. Institutional investors and hedge funds 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.