JPMorgan Chase & Co. Issues Positive Forecast for Ferguson (NASDAQ:FERG) Stock Price

Key Points

• JPMorgan Chase & Co. has raised its price target for Ferguson (NASDAQ:FERG) from $220.00 to $225.00, indicating an "overweight" rating despite a projected downside of 3.53% from the company's previous close.
• Ferguson recently reported a quarterly EPS of $2.50, exceeding analysts' expectations of $2.06, which reflects a 4.3% year-over-year revenue increase.
• The stock currently has a consensus rating of "Moderate Buy" from 16 analysts, with a price target averaging $221.00.

Ferguson (NASDAQ:FERG - Get Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $220.00 to $225.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 3.53% from the company's previous close.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Morgan Stanley reissued an "overweight" rating and set a $220.00 target price (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Berenberg Bank reissued a "hold" rating and set a $215.00 target price on shares of Ferguson in a research report on Thursday, June 5th. Finally, Wells Fargo & Company boosted their target price on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.00.

Ferguson Trading Up 1.4%

FERG traded up $3.31 during trading on Thursday, hitting $233.23. 224,388 shares of the company's stock were exchanged, compared to its average volume of 1,669,939. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson has a 1 year low of $146.00 and a 1 year high of $238.16. The stock has a 50 day moving average price of $225.40 and a 200 day moving average price of $193.92. The firm has a market cap of $45.99 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same quarter in the previous year, the company earned $2.32 EPS. The company's quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts expect that Ferguson will post 9.4 EPS for the current fiscal year.

Institutional Trading of Ferguson

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

Ferguson Company 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.

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