JPMorgan Chase & Co. Has Lowered Expectations for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $205.00 to $190.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 15.98% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Oppenheimer dropped their target price on Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Barclays dropped their target price on Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Wells Fargo & Company dropped their target price on Ferguson from $205.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Wolfe Research began coverage on Ferguson in a report on Monday. They set a “peer perform” rating for the company. Finally, Robert W. Baird set a $190.00 target price on Ferguson and gave the company an “outperform” rating in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.67.

Ferguson Price Performance

FERG opened at $163.83 on Wednesday. The stock has a 50-day moving average price of $175.16 and a 200-day moving average price of $189.05. Ferguson has a 12-month low of $152.52 and a 12-month high of $225.63. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $32.76 billion, a P/E ratio of 19.67, a PEG ratio of 1.69 and a beta of 1.28.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Ferguson by 32.5% in the 3rd quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after acquiring an additional 7,862 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ferguson by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company’s stock worth $135,247,000 after acquiring an additional 52,776 shares in the last quarter. New York Life Investment Management LLC bought a new position in shares of Ferguson in the 4th quarter worth approximately $587,000. Neo Ivy Capital Management bought a new position in shares of Ferguson in the 3rd quarter worth approximately $970,000. Finally, Clean Yield Group increased its position in Ferguson by 27.1% during the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock valued at $4,506,000 after buying an additional 5,534 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

About Ferguson

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.