Ferguson (NYSE:FERG) Stock Gets Price Target Increase from Robert W. Baird

Ferguson (NYSE:FERG) had its target price raised by equities researchers at Robert W. Baird from $288.00 to $300.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird‘s target price suggests a potential upside of 15.55% from the stock’s previous close.

FERG has been the subject of several other reports. Sanford C. Bernstein raised their price objective on shares of Ferguson from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Wells Fargo & Company upped their target price on shares of Ferguson from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. DA Davidson increased their price target on shares of Ferguson from $278.00 to $284.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Citigroup upgraded Ferguson from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $285.00 to $288.00 in a research note on Tuesday, October 27th. Finally, Oppenheimer boosted their price objective on Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $288.11.

Ferguson Stock Up 11.1%

Shares of NYSE:FERG opened at $259.63 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $226.03 and a 200 day simple moving average of $237.21. The firm has a market cap of $50.23 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11. Ferguson has a 12-month low of $212.13 and a 12-month high of $271.64.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Monday, November 9th. The company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The firm had revenue of $9.03 billion for the quarter. On average, equities research analysts anticipate that Ferguson will post 11.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jake Schlicher sold 5,177 shares of Ferguson stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $230.92, for a total value of $1,195,472.84. Following the completion of the transaction, the insider directly owned 9,490 shares of the company’s stock, valued at approximately $2,191,430.80. The trade was a 35.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO William Thees, Jr. sold 3,510 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $220.00, for a total transaction of $772,200.00. Following the sale, the chief operating officer directly owned 32,680 shares of the company’s stock, valued at approximately $7,189,600. This represents a 9.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 38,808 shares of company stock worth $8,571,587. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Ferguson

Several institutional investors have recently made changes to their positions in FERG. Edgestream Partners L.P. bought a new stake in shares of Ferguson in the 3rd quarter worth approximately $752,000. Teachers Retirement System of The State of Kentucky boosted its position in Ferguson by 60.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 39,678 shares of the company’s stock valued at $8,834,000 after purchasing an additional 15,000 shares during the period. HighTower Advisors LLC grew its stake in Ferguson by 7.5% during the 3rd quarter. HighTower Advisors LLC now owns 25,331 shares of the company’s stock worth $5,639,000 after buying an additional 1,777 shares during the last quarter. Cardiff Park Advisors LLC bought a new position in Ferguson during the 3rd quarter worth $266,000. Finally, Bessemer Group Inc. increased its position in Ferguson by 41.7% in the third quarter. Bessemer Group Inc. now owns 5,361 shares of the company’s stock worth $1,194,000 after buying an additional 1,578 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Company Profile

Ferguson plc is a distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, and fire protection products. It supplies contractors and other professional customers with products, services, and expertise for residential, commercial, industrial, and infrastructure projects.

The company serves customers primarily in the United States and Canada through branches, distribution centers, and digital channels. Its offerings include pipes, valves and fittings, plumbing fixtures, HVAC equipment, water and wastewater products, and fire protection systems.

Ferguson traces its history to Wolseley, a British company that entered the plumbing and heating distribution business in the 1950s.