Wells Fargo & Company Lowers Ferguson (NASDAQ:FERG) Price Target to $205.00

Ferguson (NASDAQ:FERG) had its target price cut by stock analysts at Wells Fargo & Company from $215.00 to $205.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 11.98% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Morgan Stanley began coverage on shares of Ferguson in a research note on Monday. They set an “overweight” rating and a $204.00 target price on the stock. UBS Group reissued a “neutral” rating and set a $193.00 price objective (down previously from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Bank of America upgraded Ferguson from an “underperform” rating to a “buy” rating and raised their target price for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.73.

Ferguson Trading Down 0.5 %

FERG traded down $0.86 during trading on Tuesday, hitting $183.06. The company’s stock had a trading volume of 72,115 shares, compared to its average volume of 1,499,491. The firm has a market capitalization of $36.60 billion, a P/E ratio of 22.00, a PEG ratio of 1.71 and a beta of 1.24. Ferguson has a twelve month low of $167.27 and a twelve month high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The stock’s fifty day moving average price is $186.39 and its 200-day moving average price is $196.88.

Hedge Funds Weigh In On Ferguson

Several large investors have recently bought and sold shares of FERG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Ferguson by 423.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock worth $290,475,000 after acquiring an additional 1,183,143 shares in the last quarter. Vontobel Holding Ltd. grew its position in Ferguson by 339.9% in the 4th quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company’s stock worth $214,320,000 after purchasing an additional 954,092 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Ferguson by 7,632.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,684 shares of the company’s stock worth $117,626,000 after purchasing an additional 668,920 shares in the last quarter. Southpoint Capital Advisors LP increased its stake in Ferguson by 133.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock valued at $138,999,000 after buying an additional 400,000 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Ferguson by 76.9% during the 3rd quarter. Barclays PLC now owns 867,593 shares of the company’s stock worth $172,281,000 after buying an additional 377,283 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Company Profile

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.