Ferguson (NASDAQ:FERG) Downgraded by BNP Paribas to “Sell”

BNP Paribas downgraded shares of Ferguson (NASDAQ:FERGGet Rating) to a sell rating in a research report released on Friday, TipRanks reports.

A number of other research firms have also recently weighed in on FERG. Exane BNP Paribas cut shares of Ferguson from a neutral rating to an underperform rating in a research report on Friday. Credit Suisse Group lowered their price objective on shares of Ferguson from £114.75 ($144.39) to £103.65 ($130.43) in a research report on Thursday, May 12th. Barclays assumed coverage on shares of Ferguson in a report on Friday, April 22nd. They set an overweight rating on the stock. HSBC upgraded shares of Ferguson from a hold rating to a buy rating in a report on Monday, February 28th. Finally, UBS Group reduced their target price on shares of Ferguson from £155 ($195.04) to £140 ($176.17) in a report on Wednesday, January 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Ferguson has an average rating of Hold and a consensus target price of $7,739.40.

Ferguson stock opened at $118.33 on Friday. The firm has a 50 day simple moving average of $130.92 and a 200-day simple moving average of $149.88. Ferguson has a 1-year low of $111.81 and a 1-year high of $183.67. 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 posted its quarterly earnings results on Tuesday, March 15th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.20. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.04 billion. Equities analysts forecast that Ferguson will post 8.87 EPS for the current year.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Armor Advisors L.L.C. acquired a new stake in shares of Ferguson in the 1st quarter valued at $17,781,000. Walleye Capital LLC purchased a new position in shares of Ferguson in the 1st quarter valued at $1,031,000. Virtu Financial LLC purchased a new position in shares of Ferguson in the 1st quarter valued at $536,000. Mirabella Financial Services LLP purchased a new position in shares of Ferguson in the 1st quarter valued at $373,000. Finally, Jane Street Group LLC grew its position in shares of Ferguson by 2,484.5% in the 1st quarter. Jane Street Group LLC now owns 36,777 shares of the company’s stock valued at $5,017,000 after buying an additional 35,354 shares during the last quarter. Institutional investors and hedge funds 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.

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