Ferguson (NASDAQ:FERG) PT Raised to $236.00 at UBS Group

Ferguson (NASDAQ:FERG) had its price target upped by equities research analysts at UBS Group from $228.00 to $236.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 15.52% from the stock’s previous close.

A number of other research firms also recently commented on FERG. Barclays decreased their target price on Ferguson from $232.00 to $229.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada increased their target price on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group boosted their price target on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird increased their price objective on shares of Ferguson from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

Ferguson Price Performance

FERG traded down $2.76 during trading on Wednesday, reaching $204.30. 146,145 shares of the company traded hands, compared to its average volume of 1,169,417. Ferguson has a 12-month low of $147.62 and a 12-month high of $225.63. The firm has a fifty day simple moving average of $204.35 and a 200 day simple moving average of $206.95. 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 has a market cap of $41.26 billion, a P/E ratio of 22.33, a PEG ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last posted its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.12. The company had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. Ferguson’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the company posted $2.77 earnings per share. On average, equities analysts forecast that Ferguson will post 9.63 EPS for the current year.

Ferguson announced that its board has initiated a stock buyback program on Tuesday, June 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Ferguson

A number of large investors have recently made changes to their positions in FERG. BayBridge Capital Group LLC lifted its stake in Ferguson by 2.0% in the first quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock worth $494,000 after purchasing an additional 47 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Ferguson by 3.0% during the 1st quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock worth $363,000 after acquiring an additional 48 shares during the last quarter. OneAscent Financial Services LLC lifted its stake in shares of Ferguson by 1.9% during the 1st quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock worth $565,000 after acquiring an additional 49 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in Ferguson by 3.6% during the 1st quarter. Perigon Wealth Management LLC now owns 1,568 shares of the company’s stock valued at $342,000 after acquiring an additional 55 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in Ferguson by 1.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,142 shares of the company’s stock valued at $686,000 after acquiring an additional 57 shares during the last quarter. 81.98% of the stock is 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.