Citigroup Has Lowered Expectations for Ferguson (NASDAQ:FERG) Stock Price

Ferguson (NASDAQ:FERG) had its target price lowered by research analysts at Citigroup from $221.00 to $189.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 8.67% from the stock’s previous close.

A number of other research firms have also commented on FERG. Barclays lowered their price objective on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. 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. Berenberg Bank upped their target price on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird decreased their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Finally, Oppenheimer started coverage on Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $226.89.

Ferguson Stock Performance

Shares of NASDAQ FERG traded down $0.34 during midday trading on Monday, hitting $173.92. 881,894 shares of the company’s stock were exchanged, compared to its average volume of 836,834. The stock’s 50 day moving average price is $197.14 and its 200-day moving average price is $199.59. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. The firm has a market cap of $34.77 billion, a P/E ratio of 20.88, a PEG ratio of 1.90 and a beta of 1.24. Ferguson has a twelve month low of $171.68 and a twelve month high of $225.63.

Insider Transactions at Ferguson

In other Ferguson news, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the sale, the senior vice president now owns 1,882 shares in the company, valued at $378,696.04. The trade was a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the sale, the vice president now directly owns 1,116 shares in the company, valued at $224,271.36. This trade represents a 70.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Ferguson

Institutional investors have recently made changes to their positions in the business. Dudley & Shanley Inc. acquired a new position in Ferguson in the fourth quarter worth about $18,984,000. Everence Capital Management Inc. bought a new position in shares of Ferguson during the 4th quarter worth approximately $1,028,000. GAMMA Investing LLC boosted its stake in Ferguson by 4.8% in the 4th quarter. GAMMA Investing LLC now owns 2,907 shares of the company’s stock valued at $505,000 after buying an additional 133 shares in the last quarter. Versant Capital Management Inc boosted its stake in Ferguson by 167.8% in the 4th quarter. Versant Capital Management Inc now owns 399 shares of the company’s stock valued at $69,000 after buying an additional 250 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Ferguson by 32.5% in the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock valued at $6,359,000 after acquiring an additional 7,862 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

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.