Ferro Corporation (FOE) Earns Overweight Rating from KeyCorp
KeyCorp reiterated their overweight rating on shares of Ferro Corporation (NYSE:FOE) in a report released on Friday morning, MarketBeat reports.
A number of other research firms also recently issued reports on FOE. Zacks Investment Research upgraded shares of Ferro Corporation from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research note on Friday, October 13th. BidaskClub upgraded shares of Ferro Corporation from a hold rating to a buy rating in a research note on Thursday, August 3rd. Finally, Longbow Research reiterated a buy rating and set a $24.00 price objective (up from $22.00) on shares of Ferro Corporation in a research note on Wednesday, August 23rd. Six investment analysts have rated the stock with a buy rating, Ferro Corporation has an average rating of Buy and a consensus target price of $23.60.
Ferro Corporation (NYSE FOE) traded down $0.19 during midday trading on Friday, hitting $23.63. 452,200 shares of the stock were exchanged, compared to its average volume of 516,006. The company has a current ratio of 2.48, a quick ratio of 1.53 and a debt-to-equity ratio of 1.94. Ferro Corporation has a 1 year low of $13.55 and a 1 year high of $24.84. The company has a market capitalization of $1,997.48, a P/E ratio of 18.61 and a beta of 1.90.
Ferro Corporation (NYSE:FOE) last released its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Ferro Corporation had a net margin of 3.44% and a return on equity of 35.77%. The firm had revenue of $350.01 million for the quarter, compared to the consensus estimate of $332.28 million. During the same period last year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. equities research analysts expect that Ferro Corporation will post 1.29 earnings per share for the current year.
In related news, Director Ronald P. Vargo sold 12,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $24.13, for a total transaction of $289,560.00. Following the completion of the sale, the director now owns 43,450 shares of the company’s stock, valued at $1,048,448.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.02% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Intrust Bank NA purchased a new stake in Ferro Corporation during the third quarter valued at approximately $210,000. Prudential Financial Inc. purchased a new stake in Ferro Corporation during the third quarter valued at approximately $217,000. Amalgamated Bank lifted its position in 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 acquiring an additional 564 shares during the last quarter. Principal Financial Group Inc. lifted its position in Ferro Corporation by 1.0% during the second quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after acquiring an additional 120 shares during the last quarter. Finally, Airain ltd purchased a new stake in Ferro Corporation during the second quarter valued at approximately $214,000. 97.57% of the stock is owned by 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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