Shares of Ferro Corporation (NYSE:FOE) have been given an average recommendation of “Buy” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $23.20.
FOE has been the subject of a number of recent research reports. KeyCorp reiterated a “buy” rating and set a $23.00 price objective on shares of Ferro Corporation in a research report on Friday, September 1st. Zacks Investment Research downgraded Ferro Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Deutsche Bank AG reiterated a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of Ferro Corporation in a research report on Monday, July 31st. Finally, BidaskClub downgraded Ferro Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th.
A number of large investors have recently made changes to their positions in FOE. Ameritas Investment Partners Inc. acquired a new stake in Ferro Corporation during the 1st quarter valued at $109,000. KCG Holdings Inc. acquired a new stake in Ferro Corporation during the 1st quarter valued at $181,000. Amalgamated Bank raised its stake in Ferro Corporation by 5.5% during the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after purchasing an additional 564 shares during the period. Envestnet Asset Management Inc. raised its stake in Ferro Corporation by 14.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 13,867 shares of the specialty chemicals company’s stock valued at $211,000 after purchasing an additional 1,782 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Ferro Corporation by 1.0% during the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after purchasing an additional 120 shares during the period. 96.56% of the stock is currently owned by institutional investors.
Ferro Corporation (NYSE FOE) traded up 1.13% during mid-day trading on Friday, reaching $23.32. The company’s stock had a trading volume of 516,297 shares. The firm has a 50-day moving average of $20.98 and a 200-day moving average of $18.47. Ferro Corporation has a 52 week low of $12.46 and a 52 week high of $23.59. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 165.39 and a beta of 2.05.
Ferro Corporation (NYSE:FOE) last released its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The firm had revenue of $348.60 million during the quarter, compared to the consensus estimate of $336.14 million. Ferro Corporation had a return on equity of 35.05% and a net margin of 1.06%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. On average, equities research analysts expect that Ferro Corporation will post $1.27 earnings per share for the current year.
Ferro Corporation Company Profile
Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.