Ferguson (NASDAQ:FERG) Downgraded by Zacks Investment Research

Ferguson (NASDAQ:FERG – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Ferguson plc is a distributor of plumbing and heating products to professional contractors and consumers primarily in the USA, UK, Nordics, Canada and Central Europe. Ferguson plc, formerly known as Wolseley plc, is headquartered in Zug, Switzerland. “

Several other equities research analysts also recently issued reports on the stock. Exane BNP Paribas downgraded shares of Ferguson from a “neutral” rating to an “underperform” rating in a research note on Friday, May 20th. UBS Group reduced their target price on shares of Ferguson from £155 ($195.04) to £140 ($176.17) in a research report on Wednesday, January 26th. Jefferies Financial Group cut shares of Ferguson from a “buy” rating to a “hold” rating in a research report on Monday, February 28th. HSBC raised shares of Ferguson from a “hold” rating to a “buy” rating in a research report on Monday, February 28th. Finally, BNP Paribas cut shares of Ferguson to a “sell” rating in a research report on Friday, May 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferguson currently has an average rating of “Hold” and an average target price of $7,739.40.

FERG traded up $1.44 during trading on Wednesday, hitting $118.37. 335,094 shares of the company’s stock were exchanged, compared to its average volume of 337,163. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.66 and a quick ratio of 0.91. Ferguson has a 1 year low of $111.81 and a 1 year high of $183.67. The stock has a 50 day moving average price of $129.27 and a 200 day moving average price of $149.19.

Ferguson (NASDAQ:FERG – Get Rating) last released its quarterly earnings data on Tuesday, March 15th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.20. The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.04 billion. On average, analysts expect that Ferguson will post 8.87 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Credit Suisse AG raised its holdings in shares of Ferguson by 8.6% during the third quarter. Credit Suisse AG now owns 827,559 shares of the company’s stock worth $115,462,000 after purchasing an additional 65,847 shares during the period. Natixis Advisors L.P. raised its holdings in shares of Ferguson by 2.1% during the fourth quarter. Natixis Advisors L.P. now owns 81,827 shares of the company’s stock worth $14,679,000 after purchasing an additional 1,687 shares during the period. National Bank of Canada FI acquired a new stake in shares of Ferguson during the fourth quarter worth $190,734,000. Envestnet Asset Management Inc. raised its holdings in shares of Ferguson by 0.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 40,120 shares of the company’s stock worth $7,184,000 after purchasing an additional 255 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Ferguson by 649.0% during the third quarter. HighTower Advisors LLC now owns 10,958 shares of the company’s stock worth $1,533,000 after acquiring an additional 9,495 shares during the last quarter. 46.84% of the stock is currently owned by institutional investors.

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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