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

Shares of Ferro Co. (NYSE:FOE) have earned a consensus recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $21.67.

FOE has been the topic of several analyst reports. Zacks Investment Research upgraded Ferro from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Friday, October 13th. ValuEngine downgraded Ferro from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st.

Shares of Ferro (NYSE:FOE) traded down $0.20 during mid-day trading on Tuesday, reaching $23.91. The company’s stock had a trading volume of 338,300 shares, compared to its average volume of 440,644. Ferro has a one year low of $13.55 and a one year high of $25.50. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48. The firm has a market capitalization of $1,990.00, a P/E ratio of 45.98 and a beta of 1.94.

Ferro (NYSE:FOE) last announced its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Ferro had a return on equity of 28.09% and a net margin of 6.56%. The company had revenue of $350.01 million for the quarter, compared to the consensus estimate of $332.28 million. During the same quarter last year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. sell-side analysts expect that Ferro will post 1.29 earnings per share for the current fiscal year.

In related news, Director Marran H. Ogilvie acquired 2,000 shares of the stock in a transaction dated Monday, November 13th. The shares were acquired at an average price of $23.60 per share, for a total transaction of $47,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Benjamin Schlater sold 12,663 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $23.50, for a total transaction of $297,580.50. Following the completion of the sale, the chief financial officer now owns 6,495 shares in the company, valued at approximately $152,632.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,428 shares of company stock worth $4,192,872. 2.02% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Ferro by 0.8% in the second quarter. Vanguard Group Inc. now owns 6,756,554 shares of the specialty chemicals company’s stock worth $123,578,000 after purchasing an additional 53,420 shares during the period. BlackRock Inc. lifted its position in Ferro by 0.8% in the second quarter. BlackRock Inc. now owns 5,361,227 shares of the specialty chemicals company’s stock worth $98,057,000 after purchasing an additional 41,297 shares during the period. Dimensional Fund Advisors LP lifted its position in Ferro by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,353,739 shares of the specialty chemicals company’s stock worth $74,788,000 after purchasing an additional 27,427 shares during the period. Paradice Investment Management LLC lifted its position in Ferro by 46.4% in the third quarter. Paradice Investment Management LLC now owns 3,318,174 shares of the specialty chemicals company’s stock worth $43,667,000 after purchasing an additional 1,051,915 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Ferro by 78.3% in the third quarter. Victory Capital Management Inc. now owns 2,561,811 shares of the specialty chemicals company’s stock worth $57,128,000 after purchasing an additional 1,124,721 shares during the period. Institutional investors and hedge funds own 97.90% of the company’s stock.

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Ferro Company Profile

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.

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