Ferguson (LON:FERG) Downgraded by Berenberg Bank
Ferguson (LON:FERG) was downgraded by research analysts at Berenberg Bank to a “hold” rating in a research report issued on Friday, ThisIsMoney.Co.Uk reports. They currently have a GBX 6,000 ($78.40) target price on the stock, down from their prior target price of GBX 6,500 ($84.93). Berenberg Bank’s price target indicates a potential upside of 7.80% from the company’s current price.
A number of other research analysts have also recently weighed in on FERG. Barclays reiterated an “overweight” rating on shares of Ferguson in a research report on Monday, March 11th. Liberum Capital reiterated a “buy” rating on shares of Ferguson in a research report on Tuesday, March 26th. Peel Hunt upgraded shares of Ferguson to an “add” rating and cut their price objective for the company from GBX 5,980 ($78.14) to GBX 5,430 ($70.95) in a research report on Tuesday, March 26th. Citigroup lowered their target price on shares of Ferguson from GBX 6,650 ($86.89) to GBX 6,200 ($81.01) and set a “buy” rating for the company in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. raised shares of Ferguson to an “overweight” rating and lowered their target price for the company from GBX 6,350 ($82.97) to GBX 5,950 ($77.75) in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Ferguson has an average rating of “Hold” and a consensus target price of GBX 5,859.57 ($76.57).
FERG stock opened at GBX 5,566 ($72.73) on Friday. The company has a current ratio of 1.84, a quick ratio of 1.02 and a debt-to-equity ratio of 60.47. Ferguson has a twelve month low of GBX 4,594 ($60.03) and a twelve month high of GBX 6,601 ($86.25). The firm has a market cap of $12.92 billion and a price-to-earnings ratio of 9.22.
Ferguson plc distributes plumbing and heating products in the United States, the United Kingdom, Canada, and Central Europe. It offers plumbing and heating solutions to customers in the residential, municipal, civil and industrial markets, and commercial sectors for repair, maintenance, and improvement (RMI), as well as new construction markets.
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