Ferro (FOE) Rating Lowered to Sell at ValuEngine

ValuEngine lowered shares of Ferro (NYSE:FOE) from a hold rating to a sell rating in a research report report published on Friday.

Other analysts also recently issued reports about the company. Gabelli restated a buy rating on shares of Ferro in a research note on Friday, July 27th. Zacks Investment Research upgraded Ferro from a hold rating to a buy rating and set a $24.00 target price for the company in a research note on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $27.00.

Shares of FOE traded down $0.74 during trading hours on Friday, hitting $18.60. The stock had a trading volume of 1,884,851 shares, compared to its average volume of 420,944. The company has a debt-to-equity ratio of 2.12, a current ratio of 2.67 and a quick ratio of 1.56. The company has a market cap of $1.95 billion, a PE ratio of 14.42, a P/E/G ratio of 0.94 and a beta of 1.70. Ferro has a 1-year low of $18.55 and a 1-year high of $25.50.

Ferro (NYSE:FOE) last issued its earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company had revenue of $416.20 million during the quarter, compared to the consensus estimate of $418.06 million. Ferro had a return on equity of 32.63% and a net margin of 4.34%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. Analysts expect that Ferro will post 1.59 EPS for the current fiscal year.

In other news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $22.49, for a total value of $247,390.00. Following the completion of the sale, the general counsel now directly owns 179,631 shares in the company, valued at approximately $4,039,901.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.26% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FOE. Victory Capital Management Inc. lifted its position in Ferro by 28.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,240,552 shares of the specialty chemicals company’s stock valued at $88,417,000 after acquiring an additional 942,354 shares in the last quarter. Luminus Management LLC lifted its position in Ferro by 52.9% in the 2nd quarter. Luminus Management LLC now owns 2,663,037 shares of the specialty chemicals company’s stock valued at $55,525,000 after acquiring an additional 921,179 shares in the last quarter. BlackRock Inc. lifted its position in Ferro by 8.1% in the 2nd quarter. BlackRock Inc. now owns 5,724,384 shares of the specialty chemicals company’s stock valued at $119,353,000 after acquiring an additional 428,281 shares in the last quarter. Scopus Asset Management L.P. lifted its position in Ferro by 23.8% in the 1st quarter. Scopus Asset Management L.P. now owns 1,693,405 shares of the specialty chemicals company’s stock valued at $39,321,000 after acquiring an additional 325,600 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new position in Ferro in the 2nd quarter valued at about $6,700,000. Institutional investors own 96.31% of the company’s stock.

About Ferro

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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