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FERG - Ferguson: Weaker Demand And Elevated Valuation Make This HVAC Distributor A Hold
Ferguson plc
2024-03-08 04:01:46 ET
Summary
Ferguson reported weak Q2 2024 results, with a decline in revenue and EPS, causing the stock price to drop.
The company has a diversified customer base and a history of strong financial performance and growth.
With weaker demand, the growth rate across both residential and non-residential markets has slowed, which also translated to lower profitability in the company's financials.
Analysts have a bullish outlook for Ferguson, but the stock is currently trading at a potentially overvalued level, suggesting it may not be a good entry point.