Shares of Ferro Co. (NYSE:FOE) have been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $20.71.
Several equities analysts recently weighed in on FOE shares. Deutsche Bank reduced their price target on shares of Ferro from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. TheStreet lowered shares of Ferro from a “b-” rating to a “c+” rating in a research report on Wednesday, May 29th. Zacks Investment Research upgraded shares of Ferro from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded shares of Ferro from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, BMO Capital Markets lowered shares of Ferro from an “outperform” rating to a “market perform” rating and set a $18.83 target price for the company. in a research report on Monday, April 1st.
In other Ferro news, Director Allen A. Spizzo bought 2,500 shares of the business’s stock in a transaction on Friday, May 17th. The stock was purchased at an average price of $15.33 per share, for a total transaction of $38,325.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $76,650. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Benjamin Schlater sold 7,419 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $20.83, for a total transaction of $154,537.77. Following the transaction, the chief financial officer now owns 33,107 shares of the company’s stock, valued at approximately $689,618.81. The disclosure for this sale can be found here. Insiders have acquired 24,500 shares of company stock valued at $387,490 in the last quarter. Company insiders own 2.71% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FOE. BlackRock Inc. boosted its position in shares of Ferro by 111.9% in the first quarter. BlackRock Inc. now owns 12,008,753 shares of the specialty chemicals company’s stock valued at $227,325,000 after acquiring an additional 6,341,126 shares during the period. Norges Bank bought a new position in shares of Ferro in the fourth quarter valued at approximately $11,016,000. Principal Financial Group Inc. bought a new position in shares of Ferro in the first quarter valued at approximately $12,702,000. Massachusetts Financial Services Co. MA boosted its position in shares of Ferro by 21.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,684,356 shares of the specialty chemicals company’s stock valued at $42,091,000 after acquiring an additional 467,836 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Ferro by 3,175.2% in the fourth quarter. Stifel Financial Corp now owns 428,299 shares of the specialty chemicals company’s stock valued at $6,688,000 after acquiring an additional 415,222 shares during the period. Institutional investors own 97.67% of the company’s stock.
FOE traded up $0.06 during trading on Friday, hitting $14.50. 298,729 shares of the company traded hands, compared to its average volume of 956,605. The firm has a market cap of $1.18 billion, a P/E ratio of 9.67, a PEG ratio of 1.10 and a beta of 1.87. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.47 and a current ratio of 2.55. Ferro has a one year low of $13.52 and a one year high of $23.88.
Ferro (NYSE:FOE) last posted its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company had revenue of $387.50 million during the quarter, compared to analyst estimates of $396.60 million. Ferro had a net margin of 4.41% and a return on equity of 30.06%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. Equities research analysts predict that Ferro will post 1.39 earnings per share for the current fiscal year.
Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, 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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