Ferguson PLC (FERG) Gets a Buy from Wells Fargo

In a report released yesterday, Sam Reid from Wells Fargo maintained a Buy rating on Ferguson PLC, with a price target of $280.00. The company’s shares opened today at $232.60.

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According to TipRanks, Reid is a 4-star analyst with an average return of 5.6% and a 60.56% success rate. Reid covers the Consumer Cyclical sector, focusing on stocks such as Mohawk, DR Horton, and Toll Brothers.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ferguson PLC with a p19,840.61 average price target, implying an 8,429.93% upside from current levels. In a report released yesterday, Barclays also maintained a Buy rating on the stock with a $267.00 price target.

Based on Ferguson PLC’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $8.5 billion and a net profit of $700 million. In comparison, last year the company earned a revenue of $7.95 billion and had a net profit of $451 million

Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FERG in relation to earlier this year.