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

Ferguson (NYSE:FERG) had its price target cut by investment analysts at Wells Fargo & Company from $285.00 to $260.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 4.72% from the stock’s previous close.

FERG has been the subject of several other research reports. Barclays upped their target price on shares of Ferguson from $278.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Weiss Ratings downgraded shares of Ferguson from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 27th. UBS Group upped their target price on shares of Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferguson in a report on Thursday, January 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Ferguson in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $267.27.

Ferguson Stock Performance

Shares of NYSE:FERG traded up $12.36 during midday trading on Wednesday, hitting $248.28. The company had a trading volume of 997,959 shares, compared to its average volume of 1,376,644. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The company has a market cap of $48.26 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 1.92 and a beta of 1.21. Ferguson has a 12-month low of $146.00 and a 12-month high of $271.64. The company has a fifty day moving average of $243.78 and a two-hundred day moving average of $240.36.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Basepoint Wealth LLC bought a new position in shares of Ferguson during the 4th quarter valued at about $26,000. Leonteq Securities AG bought a new position in shares of Ferguson during the 4th quarter valued at about $26,000. Central Pacific Bank Trust Division bought a new position in shares of Ferguson during the 4th quarter valued at about $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Ferguson during the 3rd quarter valued at about $28,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after acquiring an additional 82 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.