Ferguson’s (FERG) “Outperform” Rating Reiterated at Royal Bank of Canada

Ferguson (NASDAQ:FERG)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $219.00 price target on the stock. Royal Bank of Canada’s target price indicates a potential upside of 13.28% from the company’s current price.

Other analysts have also issued reports about the stock. Oppenheimer assumed coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price on the stock. Barclays upped their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Citigroup upped their target price 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. UBS Group upped their target price 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. Finally, Wells Fargo & Company raised their price objective on shares of Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $232.75.

Ferguson Trading Down 0.8 %

NASDAQ:FERG traded down $1.61 on Wednesday, reaching $193.33. 541,325 shares of the company’s stock were exchanged, compared to its average volume of 1,298,146. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $38.81 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.11 and a beta of 1.21. The business has a fifty day moving average of $203.96 and a 200-day moving average of $202.61. Ferguson has a 52-week low of $180.98 and a 52-week high of $225.63.

Ferguson (NASDAQ:FERG) last issued 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. The company had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.77 earnings per share. As a group, analysts expect that Ferguson will post 9.77 earnings per share for the current year.

Insider Transactions at Ferguson

In other news, CMO Victoria Morrissey sold 1,468 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was 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 trade represents a 22.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the transaction, the vice president now directly owns 1,116 shares in the company, valued at approximately $224,271.36. This trade represents a 70.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,313 shares of company stock worth $2,477,901. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Ferguson

Hedge funds have recently modified their holdings of the company. Asset Dedication LLC purchased a new position in shares of Ferguson during the third quarter valued at approximately $27,000. True Wealth Design LLC boosted its holdings in shares of Ferguson by 1,350.0% during the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Ferguson in the second quarter valued at $32,000. Capital Performance Advisors LLP acquired a new position in Ferguson in the third quarter valued at $37,000. Finally, Peterson Financial Group Inc. acquired a new stake in Ferguson in the 3rd quarter worth about $39,000. 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.