Ferro Co. (FOE) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Ferro Co. (NYSE:FOE) have earned a consensus rating of “Buy” from the eight analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $21.67.
A number of analysts have commented on FOE shares. Zacks Investment Research raised shares of Ferro from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, December 27th. KeyCorp reaffirmed an “overweight” rating on shares of Ferro in a research note on Friday, November 10th. Finally, ValuEngine lowered shares of Ferro from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st.
In other news, CEO Peter T. Thomas sold 22,182 shares of the 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 sale, the chief executive officer now directly owns 374,158 shares of the company’s stock, valued at $8,542,027.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald P. Vargo sold 12,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $24.13, for a total transaction of $289,560.00. Following the completion of the sale, the director now directly owns 43,450 shares of the company’s stock, valued at $1,048,448.50. The disclosure for this sale can be found here. Insiders sold 177,428 shares of company stock valued at $4,192,872 over the last three months. 2.02% of the stock is owned by insiders.
Ferro (NYSE FOE) traded down $0.20 during trading hours on Tuesday, hitting $23.91. 338,300 shares of the stock traded hands, compared to its average volume of 440,644. Ferro has a one year low of $13.55 and a one year high of $25.50. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48. The company has a market cap of $1,990.00, a price-to-earnings ratio of 45.98 and a beta of 1.94.
Ferro (NYSE:FOE) last posted its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Ferro had a net margin of 6.56% and a return on equity of 28.09%. The company had revenue of $350.01 million during 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% on a year-over-year basis. equities analysts forecast that Ferro will post 1.29 earnings per share for the current year.
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Ferro Company Profile
Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.
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