Ferguson (NASDAQ:FERG) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Ferguson (NASDAQ:FERGGet Rating) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Ferguson plc is a distributor of plumbing and heating products to professional contractors and consumers primarily in the USA, UK, Nordics, Canada and Central Europe. Ferguson plc, formerly known as Wolseley plc, is headquartered in Zug, Switzerland. “

Several other research firms have also recently weighed in on FERG. UBS Group cut their price objective on Ferguson from £155 ($195.04) to £140 ($176.17) in a research report on Wednesday, January 26th. Barclays assumed coverage on Ferguson in a research report on Friday, April 22nd. They issued an overweight rating on the stock. Credit Suisse Group cut their price objective on Ferguson from £114.75 ($144.39) to £103.65 ($130.43) in a research report on Thursday, May 12th. Jefferies Financial Group cut Ferguson from a buy rating to a hold rating in a research report on Monday, February 28th. Finally, Berenberg Bank dropped their price target on Ferguson from £150 ($188.75) to £140 ($176.17) in a research report on Thursday, March 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $7,739.40.

Shares of NASDAQ:FERG opened at $121.00 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.66 and a debt-to-equity ratio of 0.57. Ferguson has a 12-month low of $111.81 and a 12-month high of $183.67. The business’s 50 day moving average is $128.14 and its 200 day moving average is $148.67.

Ferguson (NASDAQ:FERGGet Rating) last posted its quarterly earnings data on Tuesday, March 15th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.20. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.04 billion. Analysts forecast that Ferguson will post 8.87 EPS for the current fiscal year.

The business also recently disclosed a semi-annual dividend, which was paid on Friday, May 6th. Investors of record on Friday, March 25th were paid a dividend of $0.84 per share. The ex-dividend date was Thursday, March 24th. This represents a dividend yield of 1.7%.

Several large investors have recently added to or reduced their stakes in FERG. Invesco Ltd. bought a new stake in shares of Ferguson during the 1st quarter valued at $651,809,000. Norges Bank bought a new stake in shares of Ferguson during the 4th quarter valued at $722,808,000. Royal London Asset Management Ltd. bought a new stake in shares of Ferguson during the 1st quarter valued at $391,174,000. Pendal Group Ltd raised its stake in shares of Ferguson by 1,258.1% during the 4th quarter. Pendal Group Ltd now owns 1,951,909 shares of the company’s stock valued at $346,042,000 after purchasing an additional 1,808,189 shares during the period. Finally, WCM Investment Management LLC bought a new stake in shares of Ferguson during the 1st quarter valued at $232,367,000. Institutional investors own 46.84% of the company’s stock.

About Ferguson (Get Rating)

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 distributes pipes, valves, fittings, plumbing supplies, water heaters, kitchen and bathroom fixtures, and appliances; heating, ventilation, air conditioning, and refrigeration products and supplies; and plumbing parts and supplies, fire sprinkler systems, hangers, struts, and fasteners.

Featured Stories

Get a free copy of the Zacks research report on Ferguson (FERG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ferguson (NASDAQ:FERG)

Receive News & Ratings for Ferguson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferguson and related companies with MarketBeat.com's FREE daily email newsletter.