Ferro (FOE) Downgraded by ValuEngine

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

A number of other brokerages have also recently issued reports on FOE. Zacks Investment Research raised shares of Ferro from a hold rating to a buy rating and set a $24.00 target price for the company in a research report on Tuesday, August 14th. Deutsche Bank reduced their target price on shares of Ferro from $26.00 to $23.00 and set a buy rating for the company in a research report on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $26.00.

FOE stock opened at $17.33 on Thursday. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.85 and a quick ratio of 1.76. Ferro has a one year low of $15.59 and a one year high of $25.06. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 0.71 and a beta of 1.71.

Ferro (NYSE:FOE) last released its quarterly earnings data on Thursday, November 8th. The specialty chemicals company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The company had revenue of $395.16 million for the quarter, compared to the consensus estimate of $400.74 million. Ferro had a return on equity of 32.74% and a net margin of 3.79%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. As a group, sell-side analysts anticipate that Ferro will post 1.55 earnings per share for the current fiscal year.

In related news, CFO Benjamin Schlater sold 5,426 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $19.53, for a total transaction of $105,969.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James Barna sold 7,500 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $19.08, for a total transaction of $143,100.00. The disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Advisors LLC lifted its position in Ferro by 7.6% during the second quarter. MetLife Investment Advisors LLC now owns 38,898 shares of the specialty chemicals company’s stock worth $811,000 after purchasing an additional 2,753 shares during the period. Rhumbline Advisers lifted its position in Ferro by 4.0% during the second quarter. Rhumbline Advisers now owns 81,371 shares of the specialty chemicals company’s stock worth $1,697,000 after purchasing an additional 3,134 shares during the period. Sei Investments Co. lifted its position in Ferro by 4.6% during the second quarter. Sei Investments Co. now owns 77,436 shares of the specialty chemicals company’s stock worth $1,615,000 after purchasing an additional 3,423 shares during the period. Essex Investment Management Co. LLC lifted its position in Ferro by 4.4% during the third quarter. Essex Investment Management Co. LLC now owns 94,842 shares of the specialty chemicals company’s stock worth $2,202,000 after purchasing an additional 4,021 shares during the period. Finally, Affinity Investment Advisors LLC lifted its position in Ferro by 26.3% during the third quarter. Affinity Investment Advisors LLC now owns 20,859 shares of the specialty chemicals company’s stock worth $484,000 after purchasing an additional 4,339 shares during the period. 98.57% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Ferro (NYSE:FOE)

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