Armistice Capital LLC Invests $3.85 Million in Ferguson plc $FERG

Key Points

• Armistice Capital LLC acquired 24,000 shares of Ferguson plc, valued at approximately $3.85 million, in the first quarter of the year.
• Ferguson reported $2.50 EPS in its latest quarterly earnings, surpassing the consensus estimate of $2.06 by $0.44.
• Equities research analysts have set multiple target prices for Ferguson, with Oppenheimer raising their price objective to $235.00 and Goldman Sachs initiating coverage with a buy rating and a target of $280.00.

Armistice Capital LLC acquired a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 24,000 shares of the company's stock, valued at approximately $3,846,000.

Several other institutional investors have also recently modified their holdings of FERG. Alamea Verwaltungs GmbH purchased a new stake in Ferguson in the 1st quarter worth approximately $462,000. Brasada Capital Management LP bought a new stake in shares of Ferguson during the first quarter valued at approximately $583,000. Vident Advisory LLC boosted its position in shares of Ferguson by 13.9% during the first quarter. Vident Advisory LLC now owns 97,854 shares of the company's stock valued at $15,679,000 after purchasing an additional 11,922 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Ferguson by 39.7% during the first quarter. Canada Pension Plan Investment Board now owns 248,186 shares of the company's stock valued at $39,767,000 after purchasing an additional 70,548 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ boosted its position in shares of Ferguson by 4.1% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 2,234 shares of the company's stock valued at $358,000 after purchasing an additional 89 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Performance

Shares of FERG traded up $0.44 during trading hours on Friday, hitting $238.61. The stock had a trading volume of 1,861,085 shares, compared to its average volume of 1,685,823. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $243.40. The firm has a market capitalization of $47.05 billion, a PE ratio of 28.65, a PEG ratio of 1.69 and a beta of 1.15. The stock has a fifty day moving average price of $226.21 and a 200 day moving average price of $194.65.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%.During the same period last year, the company earned $2.32 earnings per share. The firm's quarterly revenue was up 4.3% on a year-over-year basis. Analysts anticipate that Ferguson plc will post 9.4 EPS for the current year.

Wall Street Analysts Forecast Growth

FERG has been the subject of a number of recent research reports. Berenberg Bank reiterated a "hold" rating and set a $215.00 price objective on shares of Ferguson in a research note on Thursday, June 5th. Royal Bank Of Canada lifted their price objective on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group started coverage on Ferguson in a research note on Wednesday, June 18th. They set a "buy" rating and a $280.00 price objective for the company. Oppenheimer boosted their price target on Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, UBS Group boosted their price target on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $221.00.

Ferguson 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.