Ferguson (NYSE:FERG) Coverage Initiated by Analysts at Melius Research

Key Points

• Melius Research initiated coverage of Ferguson with a “hold” rating and a $252 price target, implying 12.9% upside from the previous close.
• Analyst sentiment remains broadly positive, with Ferguson carrying a “Moderate Buy” consensus rating and an average price target of $283.33 based on 19 ratings.
• Ferguson exceeded quarterly earnings expectations, reporting $3.39 in EPS versus the $3.23 consensus estimate on $8.75 billion in revenue; shares opened at $223.21 and were down 0.1%.

Melius Research started coverage on shares of Ferguson (NYSE:FERG - Get Free Report) in a report issued on Tuesday, Briefing.com reports. The firm set a "hold" rating and a $252.00 price target on the stock. Melius Research's price target points to a potential upside of 12.90% from the stock's previous close.

Several other analysts have also recently issued reports on the stock. Barclays upped their price target on shares of Ferguson from $297.00 to $313.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $261.00 target price on shares of Ferguson in a research note on Tuesday, August 18th. Wolfe Research started coverage on shares of Ferguson in a research report on Tuesday, September 15th. They set a "peer perform" rating on the stock. Jefferies Financial Group set a $295.00 price target on Ferguson in a research note on Thursday, September 3rd. Finally, Oppenheimer upped their price objective on Ferguson from $280.00 to $288.00 and gave the company an "outperform" rating in a research note 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 $283.33.

Ferguson Trading Down 0.1%

Shares of FERG opened at $223.21 on Tuesday. The company has a market capitalization of $43.18 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.55 and a beta of 1.14. Ferguson has a one year low of $212.13 and a one year high of $271.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. The stock has a 50-day moving average price of $231.84 and a 200 day moving average price of $234.63.

Ferguson (NYSE:FERG - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.The company had revenue of $8.75 billion for the quarter. Sell-side analysts forecast that Ferguson will post 11.42 EPS for the current fiscal year.

Insider Transactions at Ferguson

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Compass Financial Management LLC acquired a new stake in Ferguson in the second quarter worth about $32,000. Eastern Bank bought a new stake in shares of Ferguson during the 2nd quarter worth about $42,000. Vega Investment Solutions lifted its stake in shares of Ferguson by 50.5% in the 2nd quarter. Vega Investment Solutions now owns 277 shares of the company's stock worth $66,000 after acquiring an additional 93 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Ferguson by 26.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 300 shares of the company's stock valued at $67,000 after acquiring an additional 62 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. boosted its holdings in shares of Ferguson by 93.5% in the second quarter. Keating Financial Advisory Services Inc. now owns 296 shares of the company's stock valued at $70,000 after acquiring an additional 143 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.

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