JPMorgan Chase & Co. Issues Pessimistic Forecast for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its target price dropped by research analysts at JPMorgan Chase & Co. from $205.00 to $190.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 15.92% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Zelman & Associates cut shares of Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. UBS Group reiterated a “neutral” rating and set a $193.00 price target (down previously from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on Ferguson from $205.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Barclays reduced their price objective on Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Finally, Oppenheimer dropped their price objective on Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and a consensus price target of $200.67.

Ferguson Trading Up 0.6 %

Shares of NASDAQ FERG traded up $0.93 during mid-day trading on Wednesday, hitting $163.91. 109,661 shares of the company traded hands, compared to its average volume of 1,414,621. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. Ferguson has a 1 year low of $152.52 and a 1 year high of $225.63. The stock has a market capitalization of $32.77 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.69 and a beta of 1.28. The business has a 50 day moving average of $175.48 and a two-hundred day moving average of $189.40.

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

Institutional Investors Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently bought and sold shares of FERG. Integrated Wealth Concepts LLC grew its position in shares of Ferguson by 6.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company’s stock worth $211,000 after buying an additional 74 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Ferguson by 1.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock valued at $1,109,000 after acquiring an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ferguson by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company’s stock worth $4,137,000 after acquiring an additional 86 shares in the last quarter. Caprock Group LLC grew its stake in Ferguson by 2.8% in the fourth quarter. Caprock Group LLC now owns 3,496 shares of the company’s stock valued at $610,000 after purchasing an additional 94 shares in the last quarter. Finally, Commerce Bank increased its position in shares of Ferguson by 3.8% during the 3rd quarter. Commerce Bank now owns 2,666 shares of the company’s stock worth $529,000 after purchasing an additional 97 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

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.