Ferguson (NYSE:FERG) Shares Gap Down - What's Next?

Key Points

• Ferguson plc shares gapped down from a previous close of $237.67 to open at $226.54, indicating a significant price drop in its stock.
• Despite this drop, several analysts have updated their ratings, with Wall Street Zen upgrading to a "buy" and Zacks maintaining a "hold," reflecting mixed outlooks from experts.
• The company's stock currently holds a market cap of $44.60 billion and has a consensus rating of "Moderate Buy," suggesting that some analysts remain optimistic about its future performance.

Shares of Ferguson plc (NYSE:FERG - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $237.67, but opened at $226.54. Ferguson shares last traded at $226.26, with a volume of 576,717 shares trading hands.

Analyst Ratings Changes

FERG has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded Ferguson to a "strong-buy" rating in a research report on Wednesday, June 18th. Zacks Research raised Ferguson to a "hold" rating in a research note on Friday, August 8th. Berenberg Bank cut Ferguson from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Wall Street Zen raised Ferguson from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

Ferguson Stock Down 6.4%

The stock has a market capitalization of $41.65 billion, a P/E ratio of 26.34, a P/E/G ratio of 1.87 and a beta of 1.15. The stock has a 50 day moving average of $226.63. The company has a current ratio of 1.64, a quick ratio of 0.88 and a debt-to-equity ratio of 0.90.

Ferguson Company Profile

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.