Analysts Set Ferro Co. (NYSE:FOE) Price Target at $18.75

Shares of Ferro Co. (NYSE:FOE) have been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.75.

A number of research firms recently weighed in on FOE. Buckingham Research lowered shares of Ferro from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $21.00 to $16.00 in a research note on Thursday, August 1st. TheStreet lowered shares of Ferro from a “b-” rating to a “c+” rating in a research note on Wednesday, May 29th. Zacks Investment Research upgraded shares of Ferro from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. BMO Capital Markets reduced their price objective on shares of Ferro to $15.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, ValuEngine downgraded shares of Ferro from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st.

In other Ferro news, CFO Benjamin Schlater sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $12.36, for a total value of $30,900.00. Following the completion of the transaction, the chief financial officer now directly owns 30,055 shares of the company’s stock, valued at approximately $371,479.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 12,500 shares of company stock valued at $151,450. Insiders own 2.71% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Chartwell Investment Partners LLC boosted its holdings in Ferro by 0.6% in the 1st quarter. Chartwell Investment Partners LLC now owns 109,860 shares of the specialty chemicals company’s stock valued at $2,080,000 after purchasing an additional 670 shares during the period. White Pine Capital LLC boosted its holdings in Ferro by 1.7% in the 1st quarter. White Pine Capital LLC now owns 44,035 shares of the specialty chemicals company’s stock valued at $834,000 after purchasing an additional 750 shares during the period. Jane Street Group LLC boosted its holdings in Ferro by 7.5% in the 2nd quarter. Jane Street Group LLC now owns 14,349 shares of the specialty chemicals company’s stock valued at $227,000 after purchasing an additional 1,001 shares during the period. Bank of Montreal Can boosted its holdings in Ferro by 1.5% in the 1st quarter. Bank of Montreal Can now owns 78,527 shares of the specialty chemicals company’s stock valued at $1,487,000 after purchasing an additional 1,165 shares during the period. Finally, Campbell Newman Asset Management Inc. boosted its holdings in Ferro by 7.0% in the 2nd quarter. Campbell Newman Asset Management Inc. now owns 19,694 shares of the specialty chemicals company’s stock valued at $311,000 after purchasing an additional 1,286 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Shares of FOE stock traded up $0.04 during trading hours on Wednesday, hitting $10.80. 219,905 shares of the company were exchanged, compared to its average volume of 862,350. The firm has a fifty day simple moving average of $13.68 and a 200 day simple moving average of $16.10. The company has a current ratio of 2.58, a quick ratio of 1.49 and a debt-to-equity ratio of 2.25. Ferro has a 52-week low of $10.63 and a 52-week high of $23.88. The stock has a market capitalization of $900.44 million, a price-to-earnings ratio of 7.20, a P/E/G ratio of 0.97 and a beta of 1.92.

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

About Ferro

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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