JPMorgan Chase & Co. Has Lowered Expectations for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its price target reduced by analysts at JPMorgan Chase & Co. from $205.00 to $190.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.92% from the company’s current price.

A number of other equities analysts also recently commented on FERG. Berenberg Bank boosted their price objective on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Barclays decreased their price objective on Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Bank of America upgraded shares of Ferguson from an “underperform” rating to a “buy” rating and upped their price target for the company from $185.00 to $225.00 in a research report on Wednesday, January 8th. Morgan Stanley assumed coverage on shares of Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $189.00 target price on shares of Ferguson in a research note on Tuesday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $200.67.

Ferguson Trading Up 0.6 %

NASDAQ:FERG traded up $0.93 during trading hours on Wednesday, reaching $163.91. 109,661 shares of the stock were exchanged, compared to its average volume of 1,414,621. The company has a market capitalization of $32.77 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.69 and a beta of 1.28. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average of $175.48 and a two-hundred day moving average of $189.40. Ferguson has a twelve month low of $152.52 and a twelve month high of $225.63.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.06). The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 EPS. On average, equities analysts predict that Ferguson will post 9.4 EPS for the current year.

Institutional Investors Weigh In On Ferguson

Hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC increased its stake in shares of Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Manchester Capital Management LLC raised its stake in Ferguson by 906.7% during the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after buying an additional 136 shares in the last quarter. LGT Financial Advisors LLC grew its position in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock worth $34,000 after acquiring an additional 102 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Ferguson in the 4th quarter valued at approximately $35,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Ferguson during the 3rd quarter valued at approximately $45,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

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.