Ferro Co. (FOE) Receives Average Rating of “Buy” from Brokerages

Ferro Co. (NYSE:FOE) has earned a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $24.40.

FOE has been the topic of several recent analyst reports. Zacks Investment Research raised Ferro from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, December 27th. Northcoast Research reaffirmed a “buy” rating and set a $28.00 target price on shares of Ferro in a research report on Tuesday, March 6th. ValuEngine lowered Ferro from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Ferro in a research report on Tuesday, March 6th.

How to Become a New Pot Stock Millionaire

In other Ferro news, Chairman Peter T. Thomas sold 73,583 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $23.51, for a total transaction of $1,729,936.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark Hugo Duesenberg sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $24.08, for a total value of $288,960.00. Following the sale, the general counsel now owns 180,631 shares in the company, valued at approximately $4,349,594.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,583 shares of company stock worth $2,439,816. Company insiders own 2.02% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB purchased a new stake in Ferro during the 4th quarter valued at about $237,000. MetLife Investment Advisors LLC purchased a new stake in Ferro during the 4th quarter valued at about $958,000. Glenmede Trust Co. NA purchased a new stake in Ferro during the 4th quarter valued at about $32,176,000. Luminus Management LLC boosted its stake in shares of Ferro by 73.3% in the fourth quarter. Luminus Management LLC now owns 479,202 shares of the specialty chemicals company’s stock worth $11,304,000 after buying an additional 202,629 shares during the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new stake in shares of Ferro in the fourth quarter worth about $207,000. Institutional investors and hedge funds own 95.88% of the company’s stock.

NYSE:FOE traded up $0.07 during mid-day trading on Friday, hitting $23.22. 504,905 shares of the company’s stock traded hands, compared to its average volume of 491,129. Ferro has a twelve month low of $14.63 and a twelve month high of $25.50. The firm has a market capitalization of $1,952.55, a P/E ratio of 18.00 and a beta of 1.76. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.32 and a quick ratio of 1.41.

Ferro (NYSE:FOE) last announced its earnings results on Wednesday, February 28th. The specialty chemicals company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Ferro had a return on equity of 33.58% and a net margin of 4.08%. The company had revenue of $377.54 million for the quarter, compared to analyst estimates of $336.94 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. analysts expect that Ferro will post 1.59 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Ferro Co. (FOE) Receives Average Rating of “Buy” from Brokerages” was originally published by WKRB News and is the property of of WKRB News. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.wkrb13.com/2018/04/01/ferro-co-foe-receives-average-rating-of-buy-from-brokerages.html.

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.

Analyst Recommendations for Ferro (NYSE:FOE)

Receive News & Ratings for Ferro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply