Truist Financial Reaffirms Buy Rating for Ferguson (NASDAQ:FERG)

Ferguson (NASDAQ:FERG - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Truist Financial in a report released on Wednesday,Benzinga reports. They currently have a $230.00 target price on the stock. Truist Financial's price objective points to a potential upside of 7.19% from the stock's previous close.

Several other equities research analysts have also issued reports on FERG. Royal Bank of Canada lifted their price objective on shares of Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research note on Wednesday. UBS Group boosted their target price on shares of Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research report on Wednesday. Robert W. Baird set a $190.00 target price on shares of Ferguson and gave the stock an "outperform" rating in a research report on Wednesday, March 12th. Wells Fargo & Company boosted their target price on shares of Ferguson from $190.00 to $230.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Oppenheimer boosted their target price on shares of Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Ferguson presently has a consensus rating of "Moderate Buy" and an average price target of $214.50.

Ferguson Stock Down 0.7%

Shares of FERG stock traded down $1.58 on Wednesday, hitting $214.57. The company's stock had a trading volume of 1,728,273 shares, compared to its average volume of 1,645,475. 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 fifty-two week low of $146.00 and a fifty-two week high of $225.63. The firm's fifty day moving average price is $172.50 and its 200-day moving average price is $178.16. The stock has a market capitalization of $42.90 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 1.69 and a beta of 1.13.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating 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%. During the same period last year, the firm posted $2.32 earnings per share. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts anticipate that Ferguson will post 9.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FERG. Osterweis Capital Management Inc. bought a new stake in Ferguson in the first quarter valued at about $26,785,000. First Hawaiian Bank increased its stake in Ferguson by 15.4% in the first quarter. First Hawaiian Bank now owns 2,274 shares of the company's stock valued at $364,000 after acquiring an additional 303 shares during the period. Focus Partners Wealth increased its stake in Ferguson by 22.7% in the first quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock valued at $503,000 after acquiring an additional 581 shares during the period. SCS Capital Management LLC bought a new stake in Ferguson in the first quarter valued at about $435,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Ferguson by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,932,959 shares of the company's stock valued at $309,718,000 after acquiring an additional 205,531 shares during the period. Institutional investors own 81.98% of the company's stock.

Ferguson Company Profile

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.