Ferguson’s (FERG) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Ferguson (NASDAQ:FERG) in a report released on Tuesday,Benzinga reports. They currently have a $189.00 target price on the stock.

FERG has been the subject of several other reports. Bank of America raised shares of Ferguson from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. UBS Group reissued a “neutral” rating and issued a $193.00 target price (down from $230.00) on shares of Ferguson in a research report on Wednesday, January 8th. Oppenheimer decreased their target price on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Berenberg Bank upped their price objective on shares of Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their price objective on shares of Ferguson from $205.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.67.

Ferguson Stock Performance

Shares of FERG opened at $163.83 on Tuesday. The company’s 50 day moving average price is $175.16 and its 200 day moving average price is $189.05. Ferguson has a 52 week low of $152.52 and a 52 week high of $225.63. The company has a market capitalization of $32.76 billion, a PE ratio of 19.67, a PEG ratio of 1.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

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

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, March 21st. Ferguson’s payout ratio is currently 40.84%.

Hedge Funds Weigh In On Ferguson

Large investors have recently bought and sold shares of the stock. True Wealth Design LLC raised its stake in Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Manchester Capital Management LLC raised its stake in Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after purchasing an additional 136 shares during the last quarter. LGT Financial Advisors LLC raised its stake in Ferguson by 106.3% during 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 during the last quarter. Berbice Capital Management LLC acquired a new position in Ferguson during the 4th quarter valued at $35,000. Finally, Brooklyn Investment Group acquired a new position in Ferguson during the 3rd quarter valued at $45,000. 81.98% of the stock is currently 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.