Credit Suisse Upgrades Ferro Corp. to Outperform (FOE)
Ferro Corp. (NYSE:FOE) was upgraded by equities researchers at Credit Suisse from a “neutral” rating to an “outperform” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports.
FOE has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Ferro Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, August 2nd. They now have a $7.40 price target on the stock. Analysts at Deutsche Bank upgraded shares of Ferro Corp. from a “hold” rating to a “buy” rating in a research note to investors on Friday, August 2nd. They now have a GBX 8 ($0.13) price target on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Ferro Corp. presently has an average rating of “Buy” and an average price target of $8.63.
Ferro Corp. (NYSE:FOE) traded up 16.50% on Thursday, hitting $12.00. 4,910,382 shares of the company’s stock traded hands. Ferro Corp. has a one year low of $2.38 and a one year high of $8.70. The stock has a 50-day moving average of $7.37 and a 200-day moving average of $6.94. The company’s market cap is $1.039 billion.
Ferro Corp. (NYSE:FOE) last released its earnings data on Thursday, October 24th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.04. The company had revenue of $408.10 million for the quarter, compared to the consensus estimate of $399.21 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts predict that Ferro Corp. will post $0.39 earnings per share for the current fiscal year.
Ferro Corporation (NYSE:FOE) is a producer of specialty materials and chemicals that are sold to a range of manufacturers who, in turn, make products for many end-use markets.
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