ValuEngine Lowers Ferro (NYSE:FOE) to Strong Sell

ValuEngine cut shares of Ferro (NYSE:FOE) from a sell rating to a strong sell rating in a research note published on Thursday, ValuEngine reports.

A number of other equities analysts have also commented on FOE. Deutsche Bank reduced their target price on shares of Ferro from $23.00 to $21.00 and set a buy rating on the stock in a research report on Wednesday, April 3rd. Zacks Investment Research raised shares of Ferro from a sell rating to a hold rating in a research report on Monday, July 29th. TheStreet lowered shares of Ferro from a b- rating to a c+ rating in a research report on Wednesday, May 29th. Finally, Buckingham Research lowered shares of Ferro from a buy rating to a neutral rating and reduced their target price for the stock from $21.00 to $16.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Ferro has a consensus rating of Hold and an average target price of $19.37.

Shares of NYSE:FOE traded down $0.42 during trading on Thursday, reaching $12.08. 33,029 shares of the company were exchanged, compared to its average volume of 780,467. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.10 and a beta of 1.92. The business’s fifty day simple moving average is $15.06. Ferro has a 12-month low of $12.10 and a 12-month high of $23.88. The company has a quick ratio of 1.47, a current ratio of 2.58 and a debt-to-equity ratio of 2.25.

Ferro (NYSE:FOE) last issued its earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. The business had revenue of $393.90 million for the quarter, compared to analyst estimates of $415.39 million. Ferro had a net margin of 3.28% and a return on equity of 27.77%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. On average, sell-side analysts expect that Ferro will post 1.21 EPS for the current fiscal year.

In other Ferro news, CEO Peter T. Thomas acquired 17,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average cost of $15.92 per share, with a total value of $270,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 677,956 shares in the company, valued at approximately $10,793,059.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Allen A. Spizzo acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average cost of $15.90 per share, for a total transaction of $39,750.00. Following the completion of the acquisition, the director now owns 2,500 shares of the company’s stock, valued at $39,750. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 24,500 shares of company stock worth $387,490. 2.71% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Chartwell Investment Partners LLC grew its holdings in Ferro by 0.6% in the first quarter. Chartwell Investment Partners LLC now owns 109,860 shares of the specialty chemicals company’s stock worth $2,080,000 after purchasing an additional 670 shares during the last quarter. White Pine Capital LLC grew its holdings in Ferro by 1.7% in the first quarter. White Pine Capital LLC now owns 44,035 shares of the specialty chemicals company’s stock worth $834,000 after purchasing an additional 750 shares during the last quarter. Bank of Montreal Can grew its holdings in Ferro by 1.5% in the first quarter. Bank of Montreal Can now owns 78,527 shares of the specialty chemicals company’s stock worth $1,487,000 after purchasing an additional 1,165 shares during the last quarter. Campbell Newman Asset Management Inc. grew its holdings in Ferro by 7.0% in the second quarter. Campbell Newman Asset Management Inc. now owns 19,694 shares of the specialty chemicals company’s stock worth $311,000 after purchasing an additional 1,286 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in Ferro by 3.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 39,370 shares of the specialty chemicals company’s stock worth $617,000 after purchasing an additional 1,351 shares during the last quarter. 98.24% 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 three segments: Performance Coatings, 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.

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Analyst Recommendations for Ferro (NYSE:FOE)

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