Wells Fargo & Company Issues Pessimistic Forecast for Ferguson (NYSE:FERG) Stock Price

Ferguson (NYSE:FERG) had its price target lowered by stock analysts at Wells Fargo & Company from $285.00 to $260.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 2.43% from the stock’s previous close.

A number of other research firms also recently issued reports on FERG. Jefferies Financial Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a research note on Tuesday, February 24th. Oppenheimer lifted their price objective on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada lifted their price objective on Ferguson from $247.00 to $271.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Barclays lifted their price objective on Ferguson from $278.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Finally, Truist Financial lifted their price objective on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $267.27.

Ferguson Stock Up 1.9%

Shares of FERG opened at $253.84 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Ferguson has a 12-month low of $155.73 and a 12-month high of $271.64. The business’s 50 day moving average is $243.69 and its 200 day moving average is $240.52. The company has a market capitalization of $49.34 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 2.03 and a beta of 1.21.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.During the same period in the prior year, the company posted $1.52 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year.

Hedge Funds Weigh In On Ferguson

Several large investors have recently modified their holdings of the stock. Daymark Wealth Partners LLC increased its position in shares of Ferguson by 4.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 992 shares of the company’s stock valued at $223,000 after purchasing an additional 44 shares during the last quarter. Signaturefd LLC increased its position in shares of Ferguson by 1.1% during the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock valued at $886,000 after purchasing an additional 44 shares during the last quarter. Simplicity Wealth LLC increased its position in shares of Ferguson by 1.6% during the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after purchasing an additional 48 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Ferguson by 2.9% during the 4th quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock valued at $375,000 after purchasing an additional 48 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after purchasing an additional 48 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.