Ferro (FOE) Downgraded by ValuEngine

ValuEngine downgraded shares of Ferro (NYSE:FOE) from a strong-buy rating to a buy rating in a research note issued to investors on Friday morning.

A number of other research analysts have also issued reports on FOE. BidaskClub upgraded shares of Ferro from a hold rating to a buy rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Ferro from a buy rating to a hold rating in a research report on Thursday, August 17th. Longbow Research restated a buy rating and set a $24.00 target price (up previously from $22.00) on shares of Ferro in a research report on Wednesday, August 23rd. Finally, KeyCorp reiterated a buy rating and set a $23.00 price target on shares of Ferro in a research report on Friday, September 1st. Seven research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and a consensus target price of $23.60.

Shares of Ferro (NYSE:FOE) traded down $0.30 during trading hours on Friday, hitting $25.05. 634,900 shares of the company’s stock were exchanged, compared to its average volume of 519,381. Ferro has a 1 year low of $13.55 and a 1 year high of $25.50. The firm has a market cap of $2,100.63, a price-to-earnings ratio of 19.57 and a beta of 1.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48.

Ferro (NYSE:FOE) last announced its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Ferro had a net margin of 3.44% and a return on equity of 35.77%. The firm had revenue of $350.01 million for the quarter, compared to analyst estimates of $332.28 million. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. analysts forecast that Ferro will post 1.29 earnings per share for the current fiscal year.

In related news, Director Ronald P. Vargo sold 12,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $24.13, for a total transaction of $289,560.00. Following the sale, the director now owns 43,450 shares in the company, valued at approximately $1,048,448.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marran H. Ogilvie purchased 2,000 shares of Ferro stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average price of $23.60 per share, for a total transaction of $47,200.00. The disclosure for this purchase can be found here. Company insiders own 2.02% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in Ferro by 1.0% in the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after purchasing an additional 120 shares during the last quarter. Highlander Capital Management LLC lifted its stake in Ferro by 0.4% in the 2nd quarter. Highlander Capital Management LLC now owns 56,200 shares of the specialty chemicals company’s stock valued at $1,028,000 after purchasing an additional 200 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Ferro by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,370 shares of the specialty chemicals company’s stock valued at $1,178,000 after purchasing an additional 519 shares during the last quarter. Amalgamated Bank lifted its stake in Ferro by 5.5% in the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after purchasing an additional 564 shares during the last quarter. Finally, Cipher Capital LP lifted its stake in Ferro by 2.6% in the 3rd quarter. Cipher Capital LP now owns 100,712 shares of the specialty chemicals company’s stock valued at $2,246,000 after purchasing an additional 2,505 shares during the last quarter. Institutional investors and hedge funds own 97.85% of the company’s stock.

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Ferro Company Profile

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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