Ferguson (NASDAQ:FERG) Price Target Raised to $220.00

Ferguson (NASDAQ:FERG - Get Free Report) had its target price lifted by analysts at JPMorgan Chase & Co. from $200.00 to $220.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 2.87% from the stock's previous close.

Several other brokerages have also weighed in on FERG. Truist Financial reissued a "buy" rating and set a $230.00 price objective on shares of Ferguson in a report on Wednesday, June 4th. Oppenheimer lifted their price objective on Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Robert W. Baird set a $190.00 price objective on Ferguson and gave the stock an "outperform" rating in a report on Wednesday, March 12th. Royal Bank of Canada lifted their price objective on Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Wells Fargo & Company lifted their price objective on Ferguson from $190.00 to $230.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $217.07.

Ferguson Stock Performance

Shares of Ferguson stock traded up $2.86 during midday trading on Friday, hitting $213.86. The company had a trading volume of 1,828,386 shares, compared to its average volume of 1,654,615. The business's 50 day simple moving average is $173.52 and its two-hundred day simple moving average is $177.86. The stock has a market cap of $42.17 billion, a PE ratio of 25.67, a P/E/G ratio of 1.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson has a 1-year low of $146.00 and a 1-year high of $225.63.

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

Hedge Funds Weigh In On Ferguson

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Ferguson by 4.4% in 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 boosted its stake in Ferguson by 18.2% in 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 boosted its stake in Ferguson by 24.5% in 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. boosted its stake in Ferguson by 13.8% in 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 boosted its stake in Ferguson by 1.3% in 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. Institutional investors and hedge funds own 81.98% of the company's stock.

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.