Ferguson (NASDAQ:FERG) Price Target Raised to $255.00 at Oppenheimer

Key Points

• Oppenheimer analysts increased their price target for Ferguson (NASDAQ:FERG) from $235.00 to $255.00, signaling a potential upside of 11.97% based on current stock prices.
• Other firms like Wells Fargo and Barclays have also raised their price objectives for Ferguson, with Wells Fargo setting a range of $250.00 to $275.00 and Barclays at $190.00 to $247.00.
• About 81.98% of Ferguson's stock is owned by institutional investors and hedge funds, indicating strong financial backing for the company.

Ferguson (NASDAQ:FERG - Get Free Report) had its target price raised by equities researchers at Oppenheimer from $235.00 to $255.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's target price would suggest a potential upside of 11.20% from the stock's current price.

Several other equities research analysts also recently weighed in on FERG. Morgan Stanley reissued an "overweight" rating on shares of Ferguson in a report on Wednesday, September 10th. Royal Bank Of Canada upped their target price on Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a report on Wednesday. UBS Group upped their price objective on Ferguson from $204.00 to $225.00 and gave the company a "neutral" rating in a research note on Wednesday. Truist Financial increased their target price on Ferguson from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Berenberg Bank restated a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Ferguson currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.71.

Ferguson Price Performance

Ferguson stock traded up $0.13 during mid-day trading on Wednesday, reaching $229.33. 2,885,933 shares of the company were exchanged, compared to its average volume of 1,770,834. The company has a fifty day simple moving average of $226.91 and a 200-day simple moving average of $198.11. Ferguson has a 12 month low of $146.00 and a 12 month high of $243.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The firm has a market cap of $45.22 billion, a PE ratio of 27.53, a PEG ratio of 1.69 and a beta of 1.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC boosted its holdings in shares of Ferguson by 145.3% during the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company's stock valued at $28,000 after purchasing an additional 77 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of Ferguson by 51.5% in the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Ferguson by 230.8% in the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company's stock valued at $37,000 after acquiring an additional 120 shares during the last quarter. Maseco LLP bought a new position in shares of Ferguson in the 2nd quarter valued at about $40,000. Finally, Grove Bank & Trust lifted its holdings in shares of Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after acquiring an additional 141 shares during the last quarter. 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.