Ferro (FOE) Downgraded by ValuEngine to “Buy”
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.
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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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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