Ferro (FOE) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Ferro (NYSE:FOE) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

According to Zacks, “FERRO CORP. is a worldwide producer of specialty materials for industry by organic and inorganic chemistry. It operates in 21 countries worldwide. Ferro produces a variety of specialty coatings, colors, ceramics, plastics, chemicals, and related products and services. Ferro’s most important product is frit produced for use in porcelain enamels and ceramic glazes. Ferro specialty materials require a high degree of technical service on an individual customer basis. “

Several other research analysts also recently commented on FOE. ValuEngine raised shares of Ferro from a strong sell rating to a sell rating in a research note on Tuesday, January 29th. Deutsche Bank reduced their price target on shares of Ferro from $26.00 to $23.00 and set a buy rating on the stock in a research note on Tuesday, November 20th. Finally, Buckingham Research began coverage on shares of Ferro in a research note on Friday, January 4th. They issued a buy rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Ferro currently has a consensus rating of Buy and a consensus price target of $23.60.

Ferro stock opened at $17.03 on Tuesday. The stock has a market capitalization of $1.38 billion, a PE ratio of 13.20, a PEG ratio of 0.74 and a beta of 1.74. 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 12-month low of $14.59 and a 12-month high of $24.79.

In related news, insider James Barna sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $19.08, for a total value of $143,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Benjamin Schlater sold 5,426 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $19.53, for a total transaction of $105,969.78. The disclosure for this sale can be found here. Company insiders own 2.26% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in Ferro by 8.1% during the 4th quarter. Prudential Financial Inc. now owns 10,480 shares of the specialty chemicals company’s stock valued at $164,000 after purchasing an additional 785 shares during the period. Campbell Newman Asset Management Inc. increased its position in Ferro by 11.6% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 17,926 shares of the specialty chemicals company’s stock valued at $281,000 after purchasing an additional 1,861 shares during the period. Royce & Associates LP increased its position in Ferro by 0.3% during the 4th quarter. Royce & Associates LP now owns 895,599 shares of the specialty chemicals company’s stock valued at $14,043,000 after purchasing an additional 2,500 shares during the period. Great West Life Assurance Co. Can increased its position in Ferro by 37.2% during the 4th quarter. Great West Life Assurance Co. Can now owns 10,823 shares of the specialty chemicals company’s stock valued at $164,000 after purchasing an additional 2,932 shares during the period. Finally, NumerixS Investment Technologies Inc purchased a new position in Ferro during the 4th quarter valued at about $49,000. 96.80% of the stock is currently owned by institutional investors.

Ferro Company Profile

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.

See Also: Float

Get a free copy of the Zacks research report on Ferro (FOE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit