Ferguson (NYSE:FERG) Upgraded to “Buy” at Wall Street Zen

Ferguson (NYSE:FERG) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Several other research firms have also issued reports on FERG. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research note on Wednesday, September 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ferguson in a report on Wednesday, October 8th. UBS Group cut their price objective on Ferguson from $225.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, December 10th. Barclays decreased their price objective on shares of Ferguson from $273.00 to $267.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.47.

Ferguson Stock Performance

NYSE:FERG opened at $228.42 on Friday. The business’s fifty day moving average is $241.14 and its 200 day moving average is $231.18. The firm has a market cap of $44.67 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.92 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. Ferguson has a 52-week low of $146.00 and a 52-week high of $256.93.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.07. The firm had revenue of $8.17 billion for the quarter. Ferguson had a net margin of 6.28% and a return on equity of 36.42%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.45 earnings per share.

Insider Activity at Ferguson

In other news, insider James A. Paisley sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total value of $710,910.00. Following the completion of the sale, the insider owned 2,211 shares of the company’s stock, valued at approximately $523,940.67. The trade was a 57.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ian T. Graham sold 4,864 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $233.22, for a total value of $1,134,382.08. Following the sale, the insider owned 7,769 shares of the company’s stock, valued at $1,811,886.18. This represents a 38.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,264 shares of company stock worth $6,853,349 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Ferguson

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Ferguson by 0.9% in the second quarter. Vanguard Group Inc. now owns 19,341,871 shares of the company’s stock worth $4,211,692,000 after buying an additional 173,128 shares during the period. Bank of New York Mellon Corp grew its holdings in Ferguson by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,687,611 shares of the company’s stock worth $1,673,977,000 after acquiring an additional 27,312 shares during the last quarter. State Street Corp increased its position in shares of Ferguson by 1.9% in the third quarter. State Street Corp now owns 4,437,468 shares of the company’s stock valued at $1,000,152,000 after acquiring an additional 81,094 shares during the period. Franklin Resources Inc. raised its stake in shares of Ferguson by 2.6% during the third quarter. Franklin Resources Inc. now owns 4,367,818 shares of the company’s stock valued at $980,921,000 after acquiring an additional 112,157 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Ferguson by 22.4% during the third quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock valued at $838,786,000 after acquiring an additional 682,666 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.