Ferguson (NYSE:FERG) Price Target Cut to $286.00 by Analysts at Royal Bank Of Canada

Ferguson (NYSE:FERG) had its price target reduced by investment analysts at Royal Bank Of Canada from $290.00 to $286.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 31.08% from the stock’s current price.

Several other equities research analysts have also recently weighed in on FERG. Jefferies Financial Group set a $295.00 target price on Ferguson in a research note on Thursday, September 3rd. Barclays boosted their target price on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Robert W. Baird raised their price target on shares of Ferguson from $285.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Oppenheimer lifted their price target on shares of Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company upped their price objective on shares of Ferguson from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $283.07.

Ferguson Price Performance

Ferguson stock traded down $5.15 during trading hours on Wednesday, reaching $218.18. 84,105 shares of the stock were exchanged, compared to its average volume of 1,693,047. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Ferguson has a twelve month low of $212.13 and a twelve month high of $271.64. The company has a market cap of $42.21 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. The stock has a 50 day moving average of $231.66 and a two-hundred day moving average of $234.65.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.16. The company had revenue of $8.75 billion during the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. Equities analysts expect that Ferguson will post 11.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jake Schlicher sold 5,177 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $230.92, for a total transaction of $1,195,472.84. Following the completion of the transaction, the insider directly owned 9,490 shares of the company’s stock, valued at $2,191,430.80. This trade represents a 35.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Ferguson

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. increased its holdings in Ferguson by 4.3% during the 2nd quarter. Wedbush Securities Inc. now owns 1,197 shares of the company’s stock worth $284,000 after purchasing an additional 49 shares during the period. L2 Asset Management LLC lifted its holdings in shares of Ferguson by 5.2% in the 2nd quarter. L2 Asset Management LLC now owns 1,109 shares of the company’s stock worth $263,000 after buying an additional 55 shares during the period. Cidel Asset Management Inc. lifted its holdings in shares of Ferguson by 3.8% in the 2nd quarter. Cidel Asset Management Inc. now owns 1,541 shares of the company’s stock worth $366,000 after buying an additional 56 shares during the period. Natural Investments LLC grew its position in shares of Ferguson by 6.9% during the 2nd quarter. Natural Investments LLC now owns 944 shares of the company’s stock worth $224,000 after buying an additional 61 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Ferguson by 26.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 300 shares of the company’s stock worth $67,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Company Profile

Ferguson plc (NYSE: FERG) is a North American distributor of plumbing and heating products, supplying professional customers across the residential, commercial, industrial and infrastructure markets. The company serves contractors, builders, remodelers, municipalities, industrial businesses and other trade professionals through branch locations, distribution centers and digital ordering platforms.

Its product offerings include plumbing supplies and fixtures, heating and cooling equipment, water and wastewater products, fire protection systems, waterworks materials, industrial piping and related maintenance, repair and operating supplies.