Ferro Corporation (FOE) Receives Average Recommendation of “Buy” from Analysts
Ferro Corporation (NYSE:FOE) has been given a consensus recommendation of “Buy” by the seven brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have covered the stock in the last year is $22.20.
Several research analysts have commented on FOE shares. BidaskClub raised shares of Ferro Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Ferro Corporation from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Monday, July 31st. Deutsche Bank AG reaffirmed a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of Ferro Corporation in a research note on Monday, July 31st. Longbow Research raised shares of Ferro Corporation from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Monday, June 5th. Finally, KeyCorp reaffirmed a “buy” rating and set a $23.00 price objective on shares of Ferro Corporation in a research note on Friday, September 1st.
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Shares of Ferro Corporation (NYSE FOE) traded up 0.05% during midday trading on Wednesday, hitting $20.96. 725,153 shares of the stock were exchanged. The firm has a 50-day moving average of $19.41 and a 200-day moving average of $17.49. Ferro Corporation has a 1-year low of $12.35 and a 1-year high of $21.09. The company has a market capitalization of $1.75 billion, a P/E ratio of 148.65 and a beta of 2.02.
Ferro Corporation (NYSE:FOE) last announced its quarterly earnings results 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. The company had revenue of $348.60 million for the quarter, compared to analysts’ expectations of $336.14 million. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. Ferro Corporation’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. On average, equities analysts expect that Ferro Corporation will post $1.27 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Ferro Corporation during the first quarter valued at $109,000. KCG Holdings Inc. purchased a new stake in shares of Ferro Corporation during the first quarter valued at $181,000. Teza Capital Management LLC purchased a new stake in shares of Ferro Corporation during the first quarter valued at $182,000. Amalgamated Bank boosted its stake in shares of Ferro Corporation by 5.5% during the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after purchasing an additional 564 shares during the period. Finally, Nine Chapters Capital Management LLC purchased a new stake in shares of Ferro Corporation during the first quarter valued at $204,000. 96.56% of the stock is owned by hedge funds and other institutional investors.
Ferro Corporation Company Profile
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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