Ferro Corp. (FOE) Downgraded by Zacks Investment Research
Ferro Corp. (NYSE:FOE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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. “
FOE has been the topic of a number of other reports. TheStreet raised Ferro Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 8th. Deutsche Bank AG reissued a “buy” rating on shares of Ferro Corp. in a report on Tuesday, July 19th.
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Ferro Corp. (NYSE:FOE) traded down 1.50% on Tuesday, reaching $13.15. The company had a trading volume of 398,329 shares. The stock’s 50 day moving average is $13.22 and its 200-day moving average is $13.25. The stock has a market capitalization of $1.09 billion, a P/E ratio of 20.42 and a beta of 1.89. Ferro Corp. has a 1-year low of $8.47 and a 1-year high of $14.88.
Ferro Corp. (NYSE:FOE) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. The business had revenue of $297.97 million for the quarter, compared to analyst estimates of $304 million. Ferro Corp. had a return on equity of 26.92% and a net margin of 4.96%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 earnings per share. On average, equities analysts predict that Ferro Corp. will post $1.05 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its stake in Ferro Corp. by 11.3% in the second quarter. Teacher Retirement System of Texas now owns 10,648 shares of the company’s stock valued at $142,000 after buying an additional 1,083 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Ferro Corp. by 3.4% in the second quarter. Parametric Portfolio Associates LLC now owns 42,671 shares of the company’s stock valued at $571,000 after buying an additional 1,420 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Ferro Corp. by 15.0% in the second quarter. Legal & General Group Plc now owns 22,263 shares of the company’s stock valued at $296,000 after buying an additional 2,903 shares during the last quarter. Highlander Capital Management LLC raised its stake in shares of Ferro Corp. by 6.9% in the second quarter. Highlander Capital Management LLC now owns 50,850 shares of the company’s stock valued at $680,000 after buying an additional 3,300 shares during the last quarter. Finally, Quantum Capital Management raised its stake in shares of Ferro Corp. by 23.3% in the second quarter. Quantum Capital Management now owns 18,019 shares of the company’s stock valued at $241,000 after buying an additional 3,409 shares during the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.
Ferro Corp. Company Profile
Ferro Corporation (Ferro) produces performance materials for a range of manufacturers in diversified industries throughout the world. The Company uses inorganic and organic chemical processes, polymer science and materials science to develop and produce these performance materials. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides.
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