Ferro Corporation’s (FOE) “Overweight” Rating Reaffirmed at KeyCorp
Ferro Corporation (NYSE:FOE)‘s stock had its “overweight” rating reaffirmed by equities research analysts at KeyCorp in a research note issued on Friday, The Fly reports. They currently have a $27.00 price target on the specialty chemicals company’s stock. KeyCorp’s price target points to a potential upside of 17.09% from the company’s previous close. KeyCorp also issued estimates for Ferro Corporation’s FY2018 earnings at $1.50 EPS.
Several other brokerages also recently weighed in on FOE. Zacks Investment Research raised shares of Ferro Corporation from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Wednesday, September 27th. BidaskClub raised shares of Ferro Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Longbow Research reaffirmed a “buy” rating and set a $24.00 target price (up from $22.00) on shares of Ferro Corporation in a research note on Wednesday, August 23rd. Six analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $23.20.
Ferro Corporation (NYSE:FOE) opened at 23.06 on Friday. The stock’s 50 day moving average is $20.98 and its 200-day moving average is $18.47. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 163.55 and a beta of 2.05. Ferro Corporation has a 12 month low of $12.46 and a 12 month high of $23.31.
Ferro Corporation (NYSE:FOE) last released its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The business had revenue of $348.60 million for the quarter, compared to the consensus estimate of $336.14 million. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. The business’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. On average, equities research analysts expect that Ferro Corporation will post $1.27 earnings per share for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Brigade Capital Management LP increased its stake in Ferro Corporation by 8.5% during the 1st quarter. Brigade Capital Management LP now owns 2,560,396 shares of the specialty chemicals company’s stock worth $30,392,000 after buying an additional 200,000 shares during the period. Nuveen Asset Management LLC purchased a new stake in Ferro Corporation during the 1st quarter worth approximately $2,838,000. Fenimore Asset Management increased its stake in Ferro Corporation by 18.9% during the 4th quarter. Fenimore Asset Management now owns 614,075 shares of the specialty chemicals company’s stock worth $6,829,000 after buying an additional 97,775 shares during the period. Menta Capital LLC increased its stake in Ferro Corporation by 34.5% during the 4th quarter. Menta Capital LLC now owns 149,643 shares of the specialty chemicals company’s stock worth $2,144,000 after buying an additional 38,344 shares during the period. Finally, Teachers Advisors LLC increased its stake in Ferro Corporation by 21.8% during the 3rd quarter. Teachers Advisors LLC now owns 1,056,029 shares of the specialty chemicals company’s stock worth $14,584,000 after buying an additional 189,160 shares during the period. 96.56% of the stock is currently owned by hedge funds and other 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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