Ferguson (NYSE:FERG) Shares Up 0.4% - Here's What Happened

Key Points

• Ferguson plc's shares increased by 0.4% during mid-day trading, with the stock last trading at $233.38, while 1,481,652 shares changed hands, which is a 41% increase from its average session volume.
• Recent analyst ratings include a strong-buy upgrade from Goldman Sachs, while other firms provided mixed ratings, resulting in an average rating of "Moderate Buy".
• The company reported quarterly earnings of $2.50 per share, exceeding expectations by $0.49, with revenues of $7.62 billion compared to the estimated $7.41 billion.

Ferguson plc (NYSE:FERG - Get Free Report)'s stock price rose 0.4% during trading on Tuesday . The company traded as high as $234.12 and last traded at $233.38. Approximately 1,481,652 shares were traded during mid-day trading, an increase of 41% from the average daily volume of 1,047,753 shares. The stock had previously closed at $232.49.

Analyst Ratings Changes

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

Ferguson Stock Down 1.3%

The company has a quick ratio of 0.88, a current ratio of 1.64 and a debt-to-equity ratio of 0.90. The stock's 50 day moving average is $224.99. The company has a market cap of $45.58 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 1.92 and a beta of 1.15.

Ferguson (NYSE:FERG - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.49. Ferguson had a return on equity of 34.02% and a net margin of 5.32%.The company had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $7.41 billion.

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.