Ferguson (NASDAQ:FERG) Given New $215.00 Price Target at Wells Fargo & Company

Ferguson (NASDAQ:FERG) had its price target dropped by analysts at Wells Fargo & Company from $220.00 to $215.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 16.54% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Robert W. Baird lowered their price objective on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. UBS Group lifted their price objective on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Berenberg Bank increased their target price on shares of Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup lifted their price target on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research note 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 on the stock in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.44.

Ferguson Price Performance

Shares of FERG stock traded down $1.21 on Tuesday, reaching $184.48. The company’s stock had a trading volume of 222,782 shares, compared to its average volume of 1,309,154. The stock’s fifty day simple moving average is $203.55 and its 200-day simple moving average is $202.15. Ferguson has a 1 year low of $183.62 and a 1 year high of $225.63. The company has a market capitalization of $36.89 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21. 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 (NASDAQ:FERG) last issued its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a net margin of 5.68% and a return on equity of 34.85%. The business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period last year, the company posted $2.77 EPS. The business’s revenue was up 1.4% on a year-over-year basis. Analysts forecast that Ferguson will post 9.4 earnings per share for the current fiscal year.

Insider Activity

In related news, CMO Victoria Morrissey sold 1,468 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the sale, the chief marketing officer now directly owns 5,205 shares of the company’s stock, valued at $1,047,246. This represents a 22.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Garland Williams sold 1,118 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.22, for a total transaction of $224,963.96. Following the transaction, the senior vice president now owns 1,882 shares in the company, valued at approximately $378,696.04. The trade was a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,313 shares of company stock valued at $2,477,901. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Ferguson

A number of large investors have recently bought and sold shares of FERG. Asset Dedication LLC purchased a new position in shares of Ferguson in the 3rd quarter valued at $27,000. True Wealth Design LLC grew its stake in Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. EdgeRock Capital LLC bought a new position in Ferguson in the second quarter worth about $32,000. Capital Performance Advisors LLP bought a new position in Ferguson in the third quarter worth about $37,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Ferguson in the 3rd quarter valued at about $39,000. Institutional investors own 81.98% of the company’s stock.

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.