Ferguson (NASDAQ:FERG) Receives Buy Rating from Truist Financial

Ferguson (NASDAQ:FERG)‘s stock had its “buy” rating reaffirmed by investment analysts at Truist Financial in a note issued to investors on Wednesday,Benzinga reports. They currently have a $230.00 price target on the stock. Truist Financial’s price target points to a potential upside of 6.34% from the company’s current price.

A number of other research firms also recently commented on FERG. Robert W. Baird set a $190.00 target price on Ferguson and gave the stock an “outperform” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. lifted their target price on Ferguson from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. Citigroup decreased their target price on Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Wells Fargo & Company boosted their price target on Ferguson from $190.00 to $230.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Barclays boosted their price target on Ferguson from $190.00 to $247.00 and gave the company an “overweight” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.50.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $216.28 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The company has a market cap of $43.24 billion, a PE ratio of 25.96, a P/E/G ratio of 1.69 and a beta of 1.13. The business has a 50-day simple moving average of $171.41 and a two-hundred day simple moving average of $178.06. Ferguson has a fifty-two week low of $146.00 and a fifty-two week high of $225.63.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same quarter in the prior year, the business earned $2.32 earnings per share. Ferguson’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts expect that Ferguson will post 9.4 EPS for the current fiscal year.

Institutional Trading of Ferguson

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Ferguson by 4.4% during the first quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company’s stock worth $3,071,408,000 after purchasing an additional 806,718 shares in the last quarter. FMR LLC increased its position in shares of Ferguson by 18.2% during the fourth quarter. FMR LLC now owns 10,007,892 shares of the company’s stock worth $1,740,049,000 after purchasing an additional 1,539,889 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company’s stock worth $1,227,410,000 after purchasing an additional 1,506,024 shares in the last quarter. Invesco Ltd. increased its position in shares of Ferguson by 13.8% during the first quarter. Invesco Ltd. now owns 6,818,800 shares of the company’s stock worth $1,092,576,000 after purchasing an additional 827,355 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Ferguson by 1.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company’s stock worth $856,746,000 after purchasing an additional 62,887 shares in the last quarter. 81.98% of the stock is currently 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.