Ferguson (NYSE:FERG) Upgraded at Zelman & Associates

Zelman & Associates upgraded shares of Ferguson (NYSE:FERG) from a hold rating to an outperform rating in a report released on Friday, Marketbeat Ratings reports. Zelman & Associates currently has $285.00 price target on the stock.

FERG has been the topic of a number of other research reports. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Barclays upped their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Wells Fargo & Company lifted their price objective on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.21.

Ferguson Stock Performance

Shares of Ferguson stock opened at $231.39 on Friday. The firm has a market cap of $44.88 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. The firm’s 50-day simple moving average is $230.34 and its 200-day simple moving average is $240.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. Ferguson has a 1 year low of $207.64 and a 1 year high of $271.64.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The business had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $2.50 earnings per share. Equities analysts forecast that Ferguson will post 11.27 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Friday, May 15th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is 41.40%.

Ferguson announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Basepoint Wealth LLC bought a new stake in shares of Ferguson during the fourth quarter valued at approximately $26,000. Leonteq Securities AG bought a new stake in Ferguson during the 4th quarter valued at $26,000. Central Pacific Bank Trust Division bought a new stake in Ferguson during the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Ferguson during the 3rd quarter worth $28,000. Finally, Zions Bancorporation National Association UT boosted its position in Ferguson by 123.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after acquiring an additional 79 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.