Ferguson (NASDAQ:FERG) Receives New Coverage from Analysts at Barclays

Equities research analysts at Barclays assumed coverage on shares of Ferguson (NASDAQ:FERG – Get Rating) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage set an “overweight” rating on the stock.

A number of other equities analysts have also recently commented on the company. HSBC raised Ferguson from a “hold” rating to a “buy” rating in a report on Monday, February 28th. Truist Financial increased their price target on Ferguson from $186.00 to $200.00 in a research note on Friday, January 14th. Zacks Investment Research upgraded Ferguson from a “hold” rating to a “buy” rating and set a $169.00 price target for the company in a research note on Wednesday, March 2nd. Jefferies Financial Group lowered Ferguson from a “buy” rating to a “hold” rating in a research note on Monday, February 28th. Finally, UBS Group cut their price target on Ferguson from £155 ($197.55) to £140 ($178.43) in a research note on Wednesday, January 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $7,092.25.

Ferguson stock traded down $5.38 during trading on Friday, reaching $126.48. The company had a trading volume of 458,885 shares, compared to its average volume of 224,524. Ferguson has a 52 week low of $124.53 and a 52 week high of $183.67. The firm’s 50-day simple moving average is $141.84 and its 200 day simple moving average is $153.42. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.66 and a quick ratio of 0.91.

Several institutional investors have recently modified their holdings of FERG. Janus Henderson Group PLC grew its position in Ferguson by 11.8% in the third quarter. Janus Henderson Group PLC now owns 7,866,728 shares of the company’s stock worth $1,092,674,000 after acquiring an additional 832,112 shares in the last quarter. Norges Bank purchased a new position in Ferguson in the fourth quarter worth about $722,808,000. Goldman Sachs Group Inc. grew its position in Ferguson by 32.3% in the third quarter. Goldman Sachs Group Inc. now owns 3,301,122 shares of the company’s stock worth $460,573,000 after acquiring an additional 806,161 shares in the last quarter. Pictet Asset Management SA grew its position in Ferguson by 4.5% in the fourth quarter. Pictet Asset Management SA now owns 2,932,007 shares of the company’s stock worth $520,433,000 after acquiring an additional 127,010 shares in the last quarter. Finally, Pendal Group Ltd grew its position in Ferguson by 32.8% in the first quarter. Pendal Group Ltd now owns 2,591,527 shares of the company’s stock worth $353,417,000 after acquiring an additional 639,618 shares in the last quarter. Hedge funds and other institutional investors own 45.04% of the company’s stock.

Ferguson Company Profile (Get Rating)

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 distributes pipes, valves, fittings, plumbing supplies, water heaters, kitchen and bathroom fixtures, and appliances; heating, ventilation, air conditioning, and refrigeration products and supplies; and plumbing parts and supplies, fire sprinkler systems, hangers, struts, and fasteners.

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