Barclays Raises Ferguson (NASDAQ:FERG) Price Target to $245.00

Ferguson (NASDAQ:FERG) had its target price hoisted by Barclays from $229.00 to $245.00 in a report issued on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. UBS Group raised their price target on Ferguson from $228.00 to $236.00 and gave the stock a buy rating in a report on Wednesday. Royal Bank of Canada raised their price objective on shares of Ferguson from $211.00 to $219.00 and gave the company an outperform rating in a research report on Wednesday. Robert W. Baird raised 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. Finally, Jefferies Financial Group raised their price objective on shares of Ferguson from $238.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Ferguson presently has an average rating of Moderate Buy and a consensus price target of $231.57.

Ferguson Stock Performance

NASDAQ FERG opened at $196.52 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. Ferguson has a 52-week low of $147.62 and a 52-week high of $225.63. The business’s 50-day moving average price is $204.73 and its 200 day moving average price is $206.82. The firm has a market cap of $39.69 billion, a P/E ratio of 21.48, a P/E/G ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. During the same quarter last year, the company posted $2.77 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. On average, equities research analysts expect that Ferguson will post 9.63 earnings per share for the current year.

Ferguson announced 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 repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.61%. Ferguson’s payout ratio is 34.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FERG. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ferguson during the 4th quarter worth approximately $732,000. UBS Group AG increased its stake in shares of Ferguson by 104.4% during the 4th quarter. UBS Group AG now owns 213,015 shares of the company’s stock worth $41,127,000 after purchasing an additional 108,820 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Ferguson by 5.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,989 shares of the company’s stock worth $384,000 after purchasing an additional 109 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Ferguson by 20.4% during the 4th quarter. Wells Fargo & Company MN now owns 348,610 shares of the company’s stock worth $67,306,000 after purchasing an additional 59,185 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Ferguson by 27.8% during the 4th quarter. Clearbridge Investments LLC now owns 13,070 shares of the company’s stock worth $2,523,000 after purchasing an additional 2,841 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

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.