Ferguson (NYSE:FERG) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Ferguson (NYSE:FERG) had its price objective upped by research analysts at Robert W. Baird from $285.00 to $288.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 9.19% from the stock’s current price.

FERG has been the subject of a number of other research reports. Royal Bank Of Canada lifted their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Wells Fargo & Company raised their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Finally, Zelman & Associates raised Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $280.00.

Ferguson Trading Up 2.8%

FERG opened at $263.76 on Tuesday. Ferguson has a 12 month low of $207.64 and a 12 month high of $271.64. The stock has a market capitalization of $51.15 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.82 and a beta of 1.14. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The business has a fifty day moving average price of $234.16 and a 200 day moving average price of $240.89.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company had revenue of $8.75 billion for the quarter. Sell-side analysts expect that Ferguson will post 11.25 earnings per share for the current fiscal year.

Ferguson declared that its board has authorized a share buyback program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Ferguson

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Basepoint Wealth LLC acquired a new position in Ferguson during the fourth quarter worth about $26,000. Leonteq Securities AG acquired a new stake in shares of Ferguson during the 4th quarter valued at approximately $26,000. Zions Bancorporation National Association UT lifted its position in shares of Ferguson by 123.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after acquiring an additional 79 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Ferguson during the 3rd quarter worth approximately $34,000. Finally, Eastern Bank acquired a new stake in shares of Ferguson in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Company Profile

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.