Ferguson (NYSE:FERG) Downgraded by Wall Street Zen to Hold

Key Points

• Ferguson has been dropped from a "buy" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment.
• Analysts from various firms have raised their price targets for Ferguson, with JPMorgan Chase increasing theirs from $220.00 to $225.00, while Barclays set a new target of $273.00.
• The company's recent quarterly earnings exceeded expectations, reporting $3.48 EPS compared to a consensus estimate of $3.00 and generating revenue of $8.50 billion.

Ferguson (NYSE:FERG - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Barclays raised their price objective on shares of Ferguson from $247.00 to $273.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. UBS Group raised their price objective on shares of Ferguson from $204.00 to $225.00 and gave the company a "neutral" rating in a research note on Wednesday, September 17th. Royal Bank Of Canada raised their price objective on shares of Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Ferguson in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $235.71.

Ferguson Price Performance

FERG opened at $231.45 on Friday. Ferguson has a one year low of $146.00 and a one year high of $243.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The firm's 50 day moving average is $229.11. The company has a market capitalization of $45.40 billion, a PE ratio of 24.78, a P/E/G ratio of 1.90 and a beta of 1.17.

Ferguson (NYSE:FERG - Get Free Report) last released its quarterly earnings results on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, beating the consensus estimate of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The business had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.44 billion.

Institutional Investors Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Perpetual Ltd raised its holdings in shares of Ferguson by 52.5% during the third quarter. Perpetual Ltd now owns 589,953 shares of the company's stock worth $132,492,000 after acquiring an additional 203,065 shares during the period. Norman Fields Gottscho Capital Management LLC increased its stake in Ferguson by 0.9% in the 3rd quarter. Norman Fields Gottscho Capital Management LLC now owns 14,973 shares of the company's stock valued at $3,363,000 after buying an additional 135 shares during the last quarter. Wedmont Private Capital acquired a new stake in Ferguson in the 3rd quarter valued at $219,000. Ignite Planners LLC acquired a new stake in Ferguson in the 3rd quarter valued at $259,000. Finally, Chesley Taft & Associates LLC grew its position in shares of Ferguson by 18.6% in the 3rd quarter. Chesley Taft & Associates LLC now owns 6,025 shares of the company's stock valued at $1,353,000 after acquiring an additional 945 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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