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Ferguson plc (FERG) Soars 10.9%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2-min read

Ferguson plc (FERG) shares soared 10.9% in the last trading session to close at $123.40. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.7% gain over the past four weeks.

The stock gained primarily on optimism surrounding strength across its end-markets owing to continued expansion in manufacturing activities.

This company is expected to post quarterly earnings of $2.82 per share in its upcoming report, which represents a year-over-year change of +12.8%. Revenues are expected to be $7.89 billion, up 16% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Ferguson plc, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FERG going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Ferguson plc is part of the Zacks Manufacturing - General Industrial industry. Nordson (NDSN), another stock in the same industry, closed the last trading session 5.1% higher at $235.18. NDSN has returned 6.1% in the past month.

For Nordson , the consensus EPS estimate for the upcoming report has changed -1.1% over the past month to $2.33. This represents a change of +23.9% from what the company reported a year ago. Nordson currently has a Zacks Rank of #3 (Hold).


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Ferguson plc (FERG) : Free Stock Analysis Report
 
Nordson Corporation (NDSN) : Free Stock Analysis Report
 
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Zacks Investment Research