Ferguson (NYSE:FERG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has increased its price target for Ferguson (NYSE:FERG) from $225.00 to $245.00, indicating a potential upside of 2.54% as the company holds an "overweight" rating.
• Several other analysts have also raised their price targets for Ferguson, with Oppenheimer setting it as high as $255.00 and Barclays at $273.00, reflecting strong market confidence in the stock.
• Ferguson reported earnings of $3.48 per share for the last quarter, exceeding expectations of $3.00, alongside a revenue of $8.50 billion, further solidifying its favorable position in the market.

Ferguson (NYSE:FERG - Get Free Report) had its price target increased by equities researchers at JPMorgan Chase & Co. from $225.00 to $245.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 2.54% from the company's previous close.

A number of other research firms have also recently weighed in on FERG. Oppenheimer increased their price objective on shares of Ferguson from $235.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Royal Bank Of Canada raised their price target on shares of Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. UBS Group raised their price target on shares of Ferguson from $204.00 to $225.00 and gave the company a "neutral" rating in a research report on Wednesday, September 17th. Barclays raised their price target on shares of Ferguson from $247.00 to $273.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Finally, Zacks Research raised shares of Ferguson to a "hold" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $237.14.

Ferguson Price Performance

Shares of NYSE:FERG traded down $1.49 during mid-day trading on Wednesday, reaching $238.93. 136,623 shares of the company were exchanged, compared to its average volume of 1,752,127. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The company has a market cap of $46.87 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The company has a 50-day moving average price of $229.59. Ferguson has a 1 year low of $146.00 and a 1 year high of $243.40.

Ferguson (NYSE:FERG - Get Free Report) last posted its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, topping analysts' consensus estimates of $3.00 by $0.48. The firm had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Institutional Investors Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently modified their holdings of FERG. T. Rowe Price Investment Management Inc. raised its stake in Ferguson by 101.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock worth $667,498,000 after acquiring an additional 2,094,029 shares in the last quarter. Norges Bank acquired a new stake in Ferguson during the 2nd quarter worth $395,401,000. Price T Rowe Associates Inc. MD raised its stake in Ferguson by 65.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock worth $713,740,000 after acquiring an additional 1,755,464 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Ferguson by 24.5% during the 1st quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after acquiring an additional 1,506,024 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Ferguson by 39.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company's stock worth $926,830,000 after acquiring an additional 1,201,493 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

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.

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