Ferguson (NASDAQ:FERG) Upgraded at Bank of America

Ferguson (NASDAQ:FERG) was upgraded by analysts at Bank of America from an “underperform” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $225.00 target price on the stock, up from their previous target price of $185.00. Bank of America‘s target price indicates a potential upside of 30.75% from the company’s previous close.

A number of other analysts have also commented on the company. Robert W. Baird decreased their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Oppenheimer began coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective for the company. Citigroup decreased their target price on shares of Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday. UBS Group boosted their price target on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Berenberg Bank lifted their price objective on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.40.

Ferguson Stock Performance

Shares of FERG opened at $172.08 on Wednesday. The company has a 50-day moving average of $196.21 and a two-hundred day moving average of $199.26. The stock has a market cap of $34.41 billion, a P/E ratio of 20.66, a PEG ratio of 1.90 and a beta of 1.24. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. Ferguson has a 12-month low of $170.99 and a 12-month high of $225.63.

Insider Activity

In other Ferguson news, CAO Richard Winckler sold 1,325 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.75, for a total transaction of $267,318.75. Following the sale, the chief accounting officer now directly owns 1,000 shares in the company, valued at approximately $201,750. The trade was a 56.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Victoria Morrissey sold 1,468 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.20, for a total transaction of $295,361.60. Following the completion of the transaction, the chief marketing officer now owns 5,205 shares of the company’s stock, valued at $1,047,246. This trade represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Ferguson by 423.0% in 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 worth $290,475,000 after purchasing an additional 1,183,143 shares in the last quarter. Southpoint Capital Advisors LP lifted its position in Ferguson by 133.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock worth $138,999,000 after buying an additional 400,000 shares in the last quarter. Barclays PLC boosted its stake in shares of Ferguson by 76.9% during the 3rd quarter. Barclays PLC now owns 867,593 shares of the company’s stock valued at $172,281,000 after buying an additional 377,283 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Ferguson during the 3rd quarter valued at $63,420,000. Finally, FMR LLC increased its stake in shares of Ferguson by 3.5% in the third quarter. FMR LLC now owns 8,468,003 shares of the company’s stock worth $1,668,462,000 after acquiring an additional 288,935 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

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.