ValuEngine Lowers Ferro (FOE) to Strong Sell

ValuEngine downgraded shares of Ferro (NYSE:FOE) from a sell rating to a strong sell rating in a research report report published on Wednesday morning.

A number of other brokerages have also commented on FOE. Zacks Investment Research raised Ferro from a sell rating to a hold rating in a research note on Tuesday, July 31st. Gabelli reaffirmed a buy rating on shares of Ferro in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Ferro presently has a consensus rating of Buy and an average price target of $27.00.

Shares of Ferro stock traded down $0.14 on Wednesday, hitting $16.11. The stock had a trading volume of 668,277 shares, compared to its average volume of 825,526. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.56 and a current ratio of 2.67. Ferro has a one year low of $15.62 and a one year high of $25.50. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.65 and a beta of 1.70.



Ferro (NYSE:FOE) last issued its earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Ferro had a net margin of 4.34% and a return on equity of 32.63%. The firm had revenue of $416.20 million for the quarter, compared to analysts’ expectations of $418.06 million. During the same quarter last year, the business earned $0.37 earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts forecast that Ferro will post 1.59 earnings per share for the current fiscal year.

In other Ferro news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $22.49, for a total transaction of $247,390.00. Following the completion of the transaction, the general counsel now owns 179,631 shares of the company’s stock, valued at $4,039,901.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.02% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Ferro by 8.1% in the 2nd quarter. BlackRock Inc. now owns 5,724,384 shares of the specialty chemicals company’s stock worth $119,353,000 after purchasing an additional 428,281 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Ferro by 28.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,240,552 shares of the specialty chemicals company’s stock worth $88,417,000 after purchasing an additional 942,354 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ferro by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,330,616 shares of the specialty chemicals company’s stock worth $69,443,000 after purchasing an additional 16,771 shares during the last quarter. Luminus Management LLC raised its position in shares of Ferro by 52.9% in the 2nd quarter. Luminus Management LLC now owns 2,663,037 shares of the specialty chemicals company’s stock worth $55,525,000 after purchasing an additional 921,179 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Ferro by 42.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,216,520 shares of the specialty chemicals company’s stock worth $51,468,000 after purchasing an additional 655,644 shares during the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

About Ferro

Ferro Corporation produces specialty materials in the United States and internationally. It operates through four business units: Tile Coating Systems; Porcelain Enamel; 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.

Further Reading: Initial Public Offering (IPO)

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Analyst Recommendations for Ferro (NYSE:FOE)

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