ValuEngine Downgrades Ferro (FOE) to Hold

Ferro (NYSE:FOE) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday.

A number of other research analysts also recently issued reports on FOE. Zacks Investment Research upgraded Ferro from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, September 5th. KeyCorp restated an “overweight” rating and issued a $27.00 price objective (up previously from $23.00) on shares of Ferro in a research note on Friday, October 13th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ferro currently has an average rating of “Buy” and a consensus price target of $23.80.

Shares of Ferro (NYSE:FOE) opened at $23.96 on Wednesday. Ferro has a 1-year low of $13.55 and a 1-year high of $25.50. The stock has a market capitalization of $2,030.00, a price-to-earnings ratio of 46.08 and a beta of 1.94. The company has a current ratio of 2.48, a quick ratio of 1.53 and a debt-to-equity ratio of 1.94.

Ferro (NYSE:FOE) last announced its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. analysts forecast that Ferro will post 1.29 EPS for the current fiscal year.

In other news, Chairman Peter T. Thomas sold 73,583 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $23.51, for a total transaction of $1,729,936.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter T. Thomas sold 22,182 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total value of $506,415.06. Following the transaction, the chief executive officer now owns 374,158 shares of the company’s stock, valued at approximately $8,542,027.14. The disclosure for this sale can be found here. Insiders sold a total of 160,428 shares of company stock valued at $3,771,952 in the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank grew its stake in shares of Ferro by 5.5% during the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock worth $197,000 after acquiring an additional 564 shares during the period. Intrust Bank NA bought a new position in shares of Ferro during the 3rd quarter worth $210,000. Principal Financial Group Inc. grew its stake in shares of Ferro by 1.0% during the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock worth $213,000 after acquiring an additional 120 shares during the period. Airain ltd bought a new position in shares of Ferro during the 2nd quarter worth $214,000. Finally, Prudential Financial Inc. bought a new position in shares of Ferro during the 3rd quarter worth $217,000. Institutional investors own 97.26% 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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