Ferro (NYSE:FOE) PT Lowered to $15.00

Ferro (NYSE:FOE) had its target price decreased by BMO Capital Markets to $15.00 in a report issued on Thursday, The Fly reports. BMO Capital Markets currently has a market perform rating on the specialty chemicals company’s stock.

A number of other research firms have also issued reports on FOE. Buckingham Research lowered shares of Ferro from a buy rating to a neutral rating and dropped their price objective for the company from $21.00 to $16.00 in a research note on Thursday, August 1st. ValuEngine lowered shares of Ferro from a sell rating to a strong sell rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Ferro from a sell rating to a hold rating in a research note on Monday, July 29th. Finally, TheStreet lowered shares of Ferro from a b- rating to a c+ rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $18.60.

NYSE FOE traded down $0.66 during mid-day trading on Thursday, hitting $12.00. The company’s stock had a trading volume of 387,059 shares, compared to its average volume of 864,230. Ferro has a 52-week low of $11.82 and a 52-week high of $23.88. The company has a fifty day moving average price of $14.66. The company has a quick ratio of 1.49, a current ratio of 2.58 and a debt-to-equity ratio of 2.25. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 1.12 and a beta of 1.92.

Ferro (NYSE:FOE) last posted its quarterly earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The firm had revenue of $393.90 million for the quarter, compared to analyst estimates of $415.39 million. Ferro had a net margin of 3.28% and a return on equity of 27.77%. Ferro’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. As a group, research analysts anticipate that Ferro will post 1.21 earnings per share for the current year.

In other Ferro news, Director David A. Lorber purchased 2,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $15.51 per share, for a total transaction of $38,775.00. Following the completion of the transaction, the director now owns 22,000 shares in the company, valued at $341,220. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. LS Investment Advisors LLC acquired a new stake in Ferro during the 1st quarter worth about $47,000. Quantamental Technologies LLC purchased a new position in Ferro during the 1st quarter valued at about $132,000. Amalgamated Bank purchased a new position in Ferro during the 4th quarter valued at about $192,000. Virtu Financial LLC purchased a new position in Ferro during the 1st quarter valued at about $214,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ferro during the 1st quarter valued at about $259,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Ferro Company Profile

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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Analyst Recommendations for Ferro (NYSE:FOE)

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