Ferguson (NYSE:FERG – Get Free Report) was upgraded by research analysts at Zelman & Associates from a “neutral” rating to an “outperform” rating in a research report issued on Friday,Benzinga reports. The firm currently has a $285.00 price objective on the stock. Zelman & Associates’ target price would indicate a potential upside of 21.48% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. Barclays boosted their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Royal Bank Of Canada increased their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company raised their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $315.00 to $265.00 in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average target price of $277.21.
Get Our Latest Stock Report on FERG
Ferguson Stock Performance
Ferguson (NYSE:FERG – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The company had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.Ferguson’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.50 EPS. On average, research analysts anticipate that Ferguson will post 11.27 EPS for the current fiscal year.
Ferguson declared that its board has initiated a share repurchase plan on Tuesday, May 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Institutional Investors Weigh In On Ferguson
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raiffeisen Bank International AG raised its position in shares of Ferguson by 350,745.0% during the fourth quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock worth $116,382,000 after purchasing an additional 522,610 shares during the period. Marsico Capital Management LLC acquired a new position in shares of Ferguson in the 4th quarter valued at approximately $11,017,000. Lmcg Investments LLC acquired a new position in shares of Ferguson in the 1st quarter valued at approximately $1,806,000. Swiss Life Asset Management Ltd increased its stake in Ferguson by 68.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 82,169 shares of the company’s stock worth $18,454,000 after purchasing an additional 33,245 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in Ferguson during the 4th quarter worth approximately $891,000. Institutional investors own 81.98% of the company’s stock.
About Ferguson
Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.
Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.
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