Ferro (NYSE:FOE) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

FOE has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Ferro from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, September 5th. KeyCorp restated a “buy” rating and set a $23.00 target price on shares of Ferro in a research note on Friday, September 1st. Longbow Research restated a “buy” rating and set a $24.00 target price (up from $22.00) on shares of Ferro in a research note on Wednesday, August 23rd. Finally, BidaskClub upgraded shares of Ferro from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Seven investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $23.60.

Ferro (NYSE:FOE) traded down $0.30 during mid-day trading on Friday, hitting $25.05. 634,987 shares of the company were exchanged, compared to its average volume of 598,843. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.48 and a quick ratio of 1.53. Ferro has a 12-month low of $13.55 and a 12-month high of $25.50. The stock has a market capitalization of $2,100.62, a price-to-earnings ratio of 19.57 and a beta of 1.91.

Ferro (NYSE:FOE) last released its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Ferro had a net margin of 3.44% and a return on equity of 35.77%. The firm had revenue of $350.01 million for the quarter, compared to analyst estimates of $332.28 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. sell-side analysts forecast that Ferro will post 1.29 earnings per share for the current fiscal year.

In related news, Director Ronald P. Vargo sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $24.13, for a total value of $289,560.00. Following the completion of the transaction, the director now directly owns 43,450 shares of the company’s stock, valued at $1,048,448.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter T. Thomas sold 22,182 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $22.83, for a total value of $506,415.06. Following the completion of the transaction, the chief executive officer now directly owns 374,158 shares of the company’s stock, valued at $8,542,027.14. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. KCG Holdings Inc. acquired a new position in Ferro in the first quarter valued at approximately $181,000. Amalgamated Bank boosted its holdings in Ferro by 5.5% in the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after purchasing an additional 564 shares in the last quarter. Intrust Bank NA acquired a new position in Ferro in the third quarter valued at approximately $210,000. Principal Financial Group Inc. boosted its holdings in Ferro by 1.0% in the second quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after purchasing an additional 120 shares in the last quarter. Finally, Airain ltd acquired a new position in Ferro in the second quarter valued at approximately $214,000. 98.12% of the stock is owned by hedge funds and other institutional investors.

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About Ferro

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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