Ferro (FOE) Downgraded by ValuEngine to “Sell”

Ferro (NYSE:FOE) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday.

A number of other research analysts also recently issued reports on FOE. Zacks Investment Research upgraded Ferro from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Tuesday, August 14th. Deutsche Bank reduced their price objective on Ferro from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $26.00.

NYSE FOE opened at $17.33 on Thursday. The firm has a market capitalization of $1.49 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.74 and a beta of 1.71. Ferro has a 12 month low of $15.59 and a 12 month high of $25.06. The company has a quick ratio of 1.76, a current ratio of 2.85 and a debt-to-equity ratio of 2.38.

Ferro (NYSE:FOE) last released its quarterly earnings results on Thursday, November 8th. The specialty chemicals company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $395.16 million during the quarter, compared to analysts’ expectations of $400.74 million. Ferro had a net margin of 3.79% and a return on equity of 32.74%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. Equities analysts expect that Ferro will post 1.55 EPS for the current year.

In other Ferro news, CFO Benjamin Schlater sold 5,426 shares of the company’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $19.53, for a total value of $105,969.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Barna sold 7,500 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $19.08, for a total value of $143,100.00. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC grew its stake in Ferro by 7.6% in the 2nd quarter. MetLife Investment Advisors LLC now owns 38,898 shares of the specialty chemicals company’s stock valued at $811,000 after purchasing an additional 2,753 shares during the period. Rhumbline Advisers grew its stake in Ferro by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 81,371 shares of the specialty chemicals company’s stock valued at $1,697,000 after purchasing an additional 3,134 shares during the period. Sei Investments Co. grew its stake in Ferro by 4.6% in the 2nd quarter. Sei Investments Co. now owns 77,436 shares of the specialty chemicals company’s stock valued at $1,615,000 after purchasing an additional 3,423 shares during the period. Essex Investment Management Co. LLC grew its stake in Ferro by 4.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 94,842 shares of the specialty chemicals company’s stock valued at $2,202,000 after purchasing an additional 4,021 shares during the period. Finally, Affinity Investment Advisors LLC grew its stake in Ferro by 26.3% in the 3rd quarter. Affinity Investment Advisors LLC now owns 20,859 shares of the specialty chemicals company’s stock valued at $484,000 after purchasing an additional 4,339 shares during the period. Hedge funds and other institutional investors own 98.57% of the company’s stock.

Ferro Company Profile

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.

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Analyst Recommendations for Ferro (NYSE:FOE)

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