Zacks Investment Research upgraded shares of Ferro Co. (NYSE:FOE) from a hold rating to a buy rating in a research note published on Thursday morning. Zacks Investment Research currently has $22.00 price objective on the specialty chemicals company’s stock.

According to Zacks, “FERRO CORP. is a worldwide producer of specialty materials for industry by organic and inorganic chemistry. It operates in 21 countries worldwide. Ferro produces a variety of specialty coatings, colors, ceramics, plastics, chemicals, and related products and services. Ferro’s most important product is frit produced for use in porcelain enamels and ceramic glazes. Ferro specialty materials require a high degree of technical service on an individual customer basis. “

Several other research analysts have also weighed in on FOE. Longbow Research reissued a buy rating and set a $24.00 price objective (up previously from $22.00) on shares of Ferro in a research note on Wednesday. BidaskClub raised shares of Ferro from a hold rating to a buy rating in a research note on Thursday, August 3rd. TheStreet raised shares of Ferro from a c rating to a b rating in a research note on Thursday, April 27th. Deutsche Bank AG restated a buy rating and set a $22.00 target price (up from $20.00) on shares of Ferro in a report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. restated an outperform rating and set a $19.00 target price (up from $16.00) on shares of Ferro in a report on Monday, May 1st. Six analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and a consensus price target of $21.00.

Shares of Ferro (NYSE FOE) traded up 0.31% on Thursday, hitting $19.18. 426,767 shares of the stock were exchanged. The firm’s 50-day moving average is $18.94 and its 200-day moving average is $16.84. The company has a market cap of $1.61 billion, a P/E ratio of 136.03 and a beta of 2.02. Ferro has a one year low of $12.35 and a one year high of $20.34.

Ferro (NYSE:FOE) last released its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. Ferro had a net margin of 6.09% and a return on equity of 28.44%. The business had revenue of $348.60 million for the quarter, compared to analyst estimates of $336.14 million. During the same quarter last year, the firm earned $0.34 EPS. Ferro’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities analysts forecast that Ferro will post $1.27 EPS for the current fiscal year.

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Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new stake in Ferro during the first quarter worth about $109,000. KCG Holdings Inc. purchased a new position in shares of Ferro during the first quarter worth $181,000. Teza Capital Management LLC purchased a new position in shares of Ferro during the first quarter worth $182,000. Amalgamated Bank increased its position in shares of Ferro by 5.5% in the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock worth $197,000 after buying an additional 564 shares during the last quarter. Finally, Nine Chapters Capital Management LLC purchased a new position in shares of Ferro during the first quarter worth $204,000. Institutional investors own 96.39% of the company’s stock.

About Ferro

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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