Ferguson (NASDAQ:FERG) Downgraded by Zacks Investment Research

Ferguson (NASDAQ:FERGGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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. “

A number of other research firms also recently commented on FERG. HSBC raised shares of Ferguson from a “hold” rating to a “buy” rating in a research report on Monday, February 28th. Exane BNP Paribas downgraded shares of Ferguson from a “neutral” rating to an “underperform” rating in a research report on Friday, May 20th. Barclays assumed coverage on shares of Ferguson in a research report on Friday, April 22nd. They issued an “overweight” rating on the stock. Credit Suisse Group dropped their target price on shares of Ferguson from £114.75 ($144.39) to £103.65 ($130.43) in a research report on Thursday, May 12th. Finally, BNP Paribas downgraded shares of Ferguson to a “sell” rating in a research report on Friday, May 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7,739.40.

Shares of FERG traded up $1.44 during midday trading on Wednesday, reaching $118.37. The stock had a trading volume of 335,094 shares, compared to its average volume of 337,163. Ferguson has a 1-year low of $111.81 and a 1-year high of $183.67. The company’s fifty day simple moving average is $129.27 and its two-hundred day simple moving average is $149.19. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.66 and a quick ratio of 0.91.

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

Large investors have recently modified their holdings of the company. UMB Bank N A MO purchased a new stake in shares of Ferguson in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Ferguson in the fourth quarter valued at about $27,000. CVA Family Office LLC acquired a new stake in shares of Ferguson in the fourth quarter valued at about $29,000. Glassman Wealth Services acquired a new stake in shares of Ferguson in the fourth quarter valued at about $32,000. Finally, CWM LLC acquired a new stake in shares of Ferguson in the fourth quarter valued at about $43,000. 46.84% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Company Profile (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.

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