BidaskClub upgraded shares of Ferro Corporation (NYSE:FOE) from a hold rating to a buy rating in a research report report published on Wednesday.
A number of other brokerages have also weighed in on FOE. Zacks Investment Research lowered Ferro Corporation from a hold rating to a sell rating in a research note on Wednesday, July 12th. TheStreet upgraded Ferro Corporation from a c rating to a b rating in a report on Thursday, April 27th. Oppenheimer Holdings, Inc. reiterated an outperform rating and issued a $19.00 price target (up from $16.00) on shares of Ferro Corporation in a report on Monday, May 1st. Deutsche Bank AG raised their target price on Ferro Corporation from $17.00 to $20.00 and gave the company a buy rating in a research note on Friday, April 28th. Finally, Longbow Research upgraded Ferro Corporation from a neutral rating to a buy rating and set a $22.00 target price for the company in a research note on Monday, June 5th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $19.80.
Shares of Ferro Corporation (NYSE FOE) traded up 0.26% on Wednesday, reaching $18.92. The company had a trading volume of 435,150 shares. The company has a 50 day moving average of $17.68 and a 200-day moving average of $15.63. Ferro Corporation has a 52 week low of $11.80 and a 52 week high of $19.37. The company has a market capitalization of $1.58 billion, a P/E ratio of 145.54 and a beta of 2.00.
Ferro Corporation (NYSE:FOE) last released its earnings results on Tuesday, April 25th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The company had revenue of $320.56 million for the quarter, compared to analysts’ expectations of $300.58 million. Ferro Corporation had a return on equity of 34.31% and a net margin of 0.93%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. Analysts predict that Ferro Corporation will post $1.22 earnings per share for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Ferro Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 6,703,134 shares of the specialty chemicals company’s stock valued at $101,821,000 after buying an additional 324,188 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Ferro Corporation by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,332,686 shares of the specialty chemicals company’s stock worth $50,622,000 after buying an additional 42,094 shares in the last quarter. Wellington Management Group LLP raised its position in Ferro Corporation by 88.9% in the first quarter. Wellington Management Group LLP now owns 1,960,691 shares of the specialty chemicals company’s stock worth $29,782,000 after buying an additional 922,893 shares in the last quarter. Copper Rock Capital Partners LLC raised its position in Ferro Corporation by 3.2% in the first quarter. Copper Rock Capital Partners LLC now owns 1,584,920 shares of the specialty chemicals company’s stock worth $23,631,000 after buying an additional 49,762 shares in the last quarter. Finally, State Street Corp raised its position in Ferro Corporation by 5.1% in the first quarter. State Street Corp now owns 1,542,482 shares of the specialty chemicals company’s stock worth $23,429,000 after buying an additional 74,280 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.
About Ferro Corporation
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.
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