Ferguson (NASDAQ:FERG) Lifted to “Buy” at Zacks Investment Research

Ferguson (NASDAQ:FERG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, Zacks.com reports. The firm currently has a $145.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 10.94% from the company’s previous close.

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 equities research analysts also recently commented on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Ferguson in a research report on Wednesday, March 17th. Morgan Stanley reissued an “equal weight” rating on shares of Ferguson in a research report on Thursday, March 18th. Credit Suisse Group reissued a “neutral” rating on shares of Ferguson in a research report on Thursday, March 18th. Oddo Bhf downgraded shares of Ferguson from a “neutral” rating to an “underperform” rating in a research report on Wednesday, March 17th. Finally, Barclays reissued an “overweight” rating on shares of Ferguson in a research report on Wednesday, March 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $145.00.

FERG traded up $1.19 during trading hours on Monday, hitting $130.70. 32,506 shares of the company’s stock were exchanged, compared to its average volume of 28,259. Ferguson has a 12-month low of $116.70 and a 12-month high of $131.14.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Capital Group LLC purchased a new position in shares of Ferguson in the 1st quarter valued at $57,000. Harbor Investment Advisory LLC purchased a new position in shares of Ferguson in the 1st quarter valued at $132,000. Finally, Mountain Capital Investment Advisors Inc purchased a new position in shares of Ferguson in the 1st quarter valued at $450,000.

About Ferguson

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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