JPMorgan Chase & Co. Lowers Ferguson (NASDAQ:FERG) Price Target to $190.00

Ferguson (NASDAQ:FERG) had its price objective cut by JPMorgan Chase & Co. from $205.00 to $190.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $189.00 price target on shares of Ferguson in a report on Tuesday. Barclays lowered their target price on shares of Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. UBS Group restated a “neutral” rating and issued a $193.00 price target (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Wells Fargo & Company decreased their price target on Ferguson from $205.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Finally, Citigroup dropped their price objective on Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.67.

Ferguson Trading Down 1.0 %

NASDAQ:FERG opened at $162.27 on Wednesday. Ferguson has a 12-month low of $152.52 and a 12-month high of $225.63. The firm has a market cap of $32.45 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a fifty day moving average price of $175.01 and a 200 day moving average price of $188.75.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the previous year, the business posted $1.74 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts anticipate that Ferguson will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a yield of 2.05%. Ferguson’s dividend payout ratio is presently 40.84%.

Hedge Funds Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC lifted its stake in shares of Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Manchester Capital Management LLC grew its stake in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after purchasing an additional 136 shares during the period. LGT Financial Advisors LLC increased its holdings in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock valued at $34,000 after purchasing an additional 102 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in shares of Ferguson during the 4th quarter worth approximately $35,000. Finally, Brooklyn Investment Group purchased a new stake in Ferguson during the third quarter worth $45,000. Hedge funds and other 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.