Ferro Co. (NYSE:FOE) has received a consensus recommendation of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $24.40.
A number of brokerages have recently commented on FOE. Zacks Investment Research raised Ferro from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 11th. BMO Capital Markets assumed coverage on Ferro in a report on Tuesday, March 27th. They set an “outperform” rating and a $29.00 target price on the stock. ValuEngine raised Ferro from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Northcoast Research reaffirmed a “buy” rating and set a $28.00 target price on shares of Ferro in a report on Tuesday, March 6th.
Shares of FOE traded down $0.31 during trading hours on Friday, reaching $23.51. 640,072 shares of the company’s stock traded hands, compared to its average volume of 437,191. The firm has a market capitalization of $1,976.93, a price-to-earnings ratio of 18.22 and a beta of 1.53. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.41 and a current ratio of 2.32. Ferro has a twelve month low of $14.85 and a twelve month high of $25.50.
Ferro (NYSE:FOE) last issued its quarterly earnings results on Wednesday, February 28th. The specialty chemicals company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $377.54 million for the quarter, compared to analyst estimates of $336.94 million. Ferro had a return on equity of 33.58% and a net margin of 4.08%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. analysts forecast that Ferro will post 1.59 EPS for the current fiscal year.
In related news, General Counsel Mark Hugo Duesenberg sold 17,000 shares of Ferro stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $24.76, for a total value of $420,920.00. Following the transaction, the general counsel now owns 137,545 shares of the company’s stock, valued at approximately $3,405,614.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.02% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Ferro by 1.6% in the 4th quarter. BlackRock Inc. now owns 5,437,831 shares of the specialty chemicals company’s stock worth $128,277,000 after purchasing an additional 87,119 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Ferro by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,353,739 shares of the specialty chemicals company’s stock worth $74,788,000 after purchasing an additional 27,427 shares in the last quarter. Victory Capital Management Inc. increased its stake in Ferro by 22.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,130,687 shares of the specialty chemicals company’s stock worth $73,854,000 after purchasing an additional 568,876 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Ferro by 4.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,581,662 shares of the specialty chemicals company’s stock worth $35,112,000 after purchasing an additional 69,335 shares in the last quarter. Finally, Copper Rock Capital Partners LLC increased its stake in Ferro by 3.6% in the 4th quarter. Copper Rock Capital Partners LLC now owns 1,529,897 shares of the specialty chemicals company’s stock worth $36,044,000 after purchasing an additional 53,066 shares in the last quarter. 95.88% of the stock is currently owned by hedge funds and other institutional investors.
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Ferro Corporation produces specialty materials in the United States and internationally. It operates through four business units: Tile Coating Systems; Porcelain Enamel; Performance Colors and Glass; and Color Solutions. The company offers frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, dielectrics, electronic glasses, and other specialty coatings.
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