Ferro Corporation (FOE) Downgraded by Zacks Investment Research

Ferro Corporation (NYSE:FOE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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 also recently weighed in on the stock. BidaskClub raised shares of Ferro Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Deutsche Bank AG reissued a “buy” rating and issued a $22.00 target price (up previously 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 target price for the company in a research note on Monday, June 5th. TheStreet raised shares of Ferro Corporation from a “c” rating to a “b” rating in a research note on Thursday, April 27th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $19.00 target price (up previously from $16.00) on shares of Ferro Corporation in a research note on Monday, May 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Ferro Corporation has a consensus rating of “Buy” and a consensus price target of $20.40.

Shares of Ferro Corporation (NYSE:FOE) traded down 1.79% during midday trading on Thursday, hitting $18.63. 311,982 shares of the company were exchanged. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 132.13 and a beta of 2.02. The company has a 50-day moving average price of $18.80 and a 200-day moving average price of $16.63. Ferro Corporation has a 52-week low of $12.35 and a 52-week high of $20.34.

Ferro Corporation (NYSE:FOE) last announced its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.04. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. The firm had revenue of $348.60 million during the quarter, compared to the consensus estimate of $336.14 million. During the same quarter in the previous year, the company posted $0.34 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts forecast that Ferro Corporation will post $1.27 EPS for the current year.

WARNING: This report was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://sportsperspectives.com/2017/08/17/ferro-corporation-foe-downgraded-by-zacks-investment-research.html.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strategic Wealth Advisors Group LLC purchased a new position in shares of Ferro Corporation during the second quarter valued at $518,000. Highlander Capital Management LLC boosted its stake in Ferro Corporation by 0.4% in the second quarter. Highlander Capital Management LLC now owns 56,200 shares of the specialty chemicals company’s stock valued at $1,028,000 after buying an additional 200 shares during the period. Argent Capital Management LLC boosted its stake in Ferro Corporation by 48.3% in the second quarter. Argent Capital Management LLC now owns 173,095 shares of the specialty chemicals company’s stock valued at $3,166,000 after buying an additional 56,375 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Ferro Corporation by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 64,370 shares of the specialty chemicals company’s stock valued at $1,178,000 after buying an additional 519 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Ferro Corporation during the second quarter valued at approximately $295,000. 96.39% of the stock is owned by hedge funds and other institutional investors.

About Ferro Corporation

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.

Receive News & Ratings for Ferro Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply