Ferguson (NASDAQ:FERG) Price Target Raised to $225.00 at Robert W. Baird

Ferguson (NASDAQ:FERG) had its target price boosted by stock analysts at Robert W. Baird from $222.00 to $225.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 8.65% from the company’s current price.

Several other equities research analysts also recently weighed in on FERG. Royal Bank of Canada boosted their target price on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group boosted their price target on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays reduced their price objective on Ferguson from $232.00 to $229.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $230.75.

Ferguson Trading Up 5.0 %

NASDAQ:FERG opened at $207.09 on Wednesday. The stock has a market cap of $41.82 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21. Ferguson has a one year low of $147.62 and a one year high of $225.63. 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 business’s 50-day simple moving average is $204.35 and its 200 day simple moving average is $206.95.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The company had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. During the same period in the prior year, the company posted $2.77 EPS. Ferguson’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Ferguson will post 9.63 earnings per share for the current fiscal year.

Ferguson declared that its board has initiated a share buyback plan on Tuesday, June 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Ferguson

Several large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new position in shares of Ferguson during the second quarter worth about $976,000. Kestra Investment Management LLC acquired a new position in Ferguson during the 2nd quarter valued at about $536,000. Clearbridge Investments LLC grew its position in Ferguson by 20.7% in the 2nd quarter. Clearbridge Investments LLC now owns 176,231 shares of the company’s stock worth $34,127,000 after purchasing an additional 30,186 shares during the last quarter. Regency Capital Management Inc. DE increased its stake in shares of Ferguson by 7.0% in the second quarter. Regency Capital Management Inc. DE now owns 5,166 shares of the company’s stock valued at $1,000,000 after purchasing an additional 339 shares during the period. Finally, Ascent Group LLC raised its holdings in shares of Ferguson by 11.5% during the second quarter. Ascent Group LLC now owns 7,321 shares of the company’s stock valued at $1,418,000 after buying an additional 753 shares during the last quarter. 81.98% of the stock is 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.