Ferguson (NASDAQ:FERG) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Ferguson plc (NASDAQ:FERG) saw unusually-high trading volume on Friday after Truist Financial raised their price target on the stock from $186.00 to $200.00. Approximately 1,962 shares traded hands during mid-day trading, a decline of 95% from the previous session’s volume of 37,661 shares.The stock last traded at $171.55 and had previously closed at $175.43.

A number of other equities analysts also recently weighed in on FERG. Zacks Investment Research raised shares of Ferguson from a “hold” rating to a “buy” rating and set a $183.00 price target on the stock in a report on Friday, December 10th. Berenberg Bank upgraded shares of Ferguson from a “hold” rating to a “buy” rating in a research report on Wednesday, January 5th. Royal Bank of Canada reiterated a “sector perform” rating on shares of Ferguson in a research report on Tuesday, October 5th. UBS Group reiterated a “buy” rating on shares of Ferguson in a research report on Wednesday, September 29th. Finally, Robert W. Baird started coverage on Ferguson in a research note on Thursday, December 16th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $189.67.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Carroll Financial Associates Inc. increased its holdings in shares of Ferguson by 117.0% in the third quarter. Carroll Financial Associates Inc. now owns 191 shares of the company’s stock valued at $26,000 after purchasing an additional 103 shares during the period. Liberty Wealth Management LLC purchased a new position in shares of Ferguson in the second quarter valued at approximately $36,000. Evolution Wealth Advisors LLC acquired a new stake in shares of Ferguson in the third quarter valued at approximately $38,000. First Horizon Advisors Inc. increased its stake in Ferguson by 5,914.3% during the third quarter. First Horizon Advisors Inc. now owns 1,263 shares of the company’s stock worth $47,000 after acquiring an additional 1,242 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in Ferguson by 12.1% during the third quarter. Captrust Financial Advisors now owns 1,193 shares of the company’s stock worth $166,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 34.84% of the company’s stock.

The stock has a fifty day moving average of $166.05 and a 200-day moving average of $151.27. The company has a quick ratio of 0.97, a current ratio of 1.67 and a debt-to-equity ratio of 0.53.

Ferguson (NASDAQ:FERG) last posted its earnings results on Tuesday, December 7th. The company reported $2.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.36. The firm had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.55 billion. As a group, research analysts anticipate that Ferguson plc will post 8.29 EPS for the current year.

Ferguson Company Profile (NASDAQ:FERG)

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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