JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Ferguson (NASDAQ:FERG) Stock

Ferguson (NASDAQ:FERG) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $220.00 to $225.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 5.71% from the stock’s current price.

FERG has been the subject of a number of other reports. Wells Fargo & Company raised their target price on Ferguson from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Berenberg Bank restated a “hold” rating and issued a $215.00 target price on shares of Ferguson in a research note on Thursday, June 5th. Royal Bank Of Canada raised their target price on Ferguson from $189.00 to $231.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Barclays raised their target price on Ferguson from $190.00 to $247.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Finally, UBS Group raised their target price on Ferguson from $173.00 to $204.00 and gave the company 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.00.

Ferguson Stock Performance

Shares of NASDAQ:FERG opened at $238.61 on Thursday. The business’s fifty day moving average price is $226.21 and its two-hundred day moving average price is $194.65. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The stock has a market capitalization of $47.05 billion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. Ferguson has a fifty-two week low of $146.00 and a fifty-two week high of $243.40.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm earned $2.32 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts predict that Ferguson will post 9.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Ferguson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ferguson by 14.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company’s stock worth $928,000 after buying an additional 722 shares during the period. Fiera Capital Corp grew its position in shares of Ferguson by 37.5% during the 1st quarter. Fiera Capital Corp now owns 13,042 shares of the company’s stock worth $2,090,000 after buying an additional 3,559 shares during the period. Empower Advisory Group LLC acquired a new position in shares of Ferguson during the 1st quarter worth about $843,000. Ground Swell Capital LLC acquired a new position in shares of Ferguson during the 1st quarter worth about $299,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Ferguson by 24.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company’s stock worth $544,000 after buying an additional 657 shares during the period. Institutional investors own 81.98% of the company’s stock.

About Ferguson

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.