Ferro Co. (NYSE:FOE) has received an average recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $25.75.
A number of equities research analysts recently commented on FOE shares. Northcoast Research reiterated a “buy” rating and issued a $28.00 price objective on shares of Ferro in a report on Tuesday, March 6th. BMO Capital Markets initiated coverage on Ferro in a report on Tuesday, March 27th. They issued an “outperform” rating and a $29.00 price objective for the company. Seaport Global Securities reissued a “buy” rating on shares of Ferro in a research note on Tuesday, March 6th. ValuEngine raised Ferro from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research raised Ferro from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, May 7th.
Ferro traded up $0.13, reaching $21.03, on Friday, according to MarketBeat Ratings. The company had a trading volume of 704,900 shares, compared to its average volume of 421,588. The company has a market capitalization of $1.78 billion, a PE ratio of 16.30, a P/E/G ratio of 0.80 and a beta of 1.53. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 1.98. Ferro has a 52 week low of $17.37 and a 52 week high of $25.50.
Ferro (NYSE:FOE) last released its quarterly earnings data on Tuesday, May 1st. The specialty chemicals company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $405.50 million during the quarter, compared to the consensus estimate of $380.56 million. Ferro had a return on equity of 32.32% and a net margin of 3.95%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. sell-side analysts predict that Ferro will post 1.59 earnings per share for the current fiscal year.
In other Ferro news, General Counsel Mark Hugo Duesenberg sold 12,000 shares of the business’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $21.84, for a total value of $262,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. Swiss National Bank grew its stake in Ferro by 2.3% in the first quarter. Swiss National Bank now owns 138,500 shares of the specialty chemicals company’s stock valued at $3,216,000 after acquiring an additional 3,100 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Ferro by 0.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 505,163 shares of the specialty chemicals company’s stock worth $11,917,000 after buying an additional 3,183 shares during the period. SG Americas Securities LLC boosted its position in shares of Ferro by 36.6% during the first quarter. SG Americas Securities LLC now owns 12,241 shares of the specialty chemicals company’s stock worth $284,000 after buying an additional 3,281 shares during the period. Kennedy Capital Management Inc. boosted its position in shares of Ferro by 0.3% during the fourth quarter. Kennedy Capital Management Inc. now owns 1,184,917 shares of the specialty chemicals company’s stock worth $27,952,000 after buying an additional 3,393 shares during the period. Finally, Pitcairn Co. boosted its position in shares of Ferro by 39.2% during the first quarter. Pitcairn Co. now owns 13,120 shares of the specialty chemicals company’s stock worth $304,000 after buying an additional 3,692 shares during the period. 95.08% of the stock is owned by hedge funds and other institutional investors.
Ferro Company Profile
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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