Wells Fargo & Company Issues Pessimistic Forecast for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its target price decreased by research analysts at Wells Fargo & Company from $220.00 to $215.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 21.14% from the stock’s previous close.

Several other analysts have also recently commented on FERG. Oppenheimer assumed coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a research report on Wednesday, December 11th. Berenberg Bank boosted their target price on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Citigroup increased their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Finally, Barclays reduced their price objective on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $230.44.

Ferguson Stock Performance

Shares of FERG opened at $177.48 on Tuesday. Ferguson has a 1 year low of $177.44 and a 1 year high of $225.63. The stock has a market capitalization of $35.49 billion, a P/E ratio of 21.31, a P/E/G ratio of 1.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The company’s fifty day moving average is $202.96 and its two-hundred day moving average is $201.83.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 5.68% and a return on equity of 34.85%. The firm had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period in the prior year, the company posted $2.77 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, sell-side analysts predict that Ferguson will post 9.4 earnings per share for the current year.

Insider Buying and Selling

In other Ferguson news, CAO Richard Winckler sold 1,325 shares of the firm’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 of the company’s stock, valued at $201,750. This trade represents a 56.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the transaction, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at approximately $378,696.04. This represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock worth $2,477,901 in the last ninety days. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Ferguson

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its holdings in shares of Ferguson by 15.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,244 shares of the company’s stock worth $2,769,000 after buying an additional 1,935 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. raised its stake in shares of Ferguson by 23.1% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 236,285 shares of the company’s stock valued at $45,757,000 after acquiring an additional 44,299 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Ferguson during the 2nd quarter valued at $32,000. Moody Lynn & Lieberson LLC boosted its position in Ferguson by 20.2% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 60,639 shares of the company’s stock worth $11,743,000 after purchasing an additional 10,175 shares during the period. Finally, Raymond James Trust N.A. increased its holdings in Ferguson by 25.4% in the 2nd quarter. Raymond James Trust N.A. now owns 9,067 shares of the company’s stock valued at $1,756,000 after purchasing an additional 1,835 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

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.