Ferro Co. (FOE) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Ferro Co. (NYSE:FOE) have earned a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $21.67.

Several equities research analysts have issued reports on FOE shares. KeyCorp reiterated an “overweight” rating and issued a $27.00 price target (up from $23.00) on shares of Ferro in a research note on Friday, October 13th. Zacks Investment Research upgraded shares of Ferro from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Friday, October 13th. Finally, ValuEngine downgraded shares of Ferro from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st.

Shares of Ferro (NYSE FOE) traded up $0.07 during mid-day trading on Friday, reaching $20.92. 480,980 shares of the company’s stock traded hands, compared to its average volume of 373,602. The company has a quick ratio of 1.53, a current ratio of 2.48 and a debt-to-equity ratio of 1.94. Ferro has a 12-month low of $13.56 and a 12-month high of $25.50. The firm has a market cap of $1,748.42, a price-to-earnings ratio of 39.47 and a beta of 1.72.

In related news, Director Marran H. Ogilvie bought 2,000 shares of Ferro stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average price of $23.60 per share, with a total value of $47,200.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Peter T. Thomas sold 22,182 shares of Ferro stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total transaction of $506,415.06. Following the sale, the chief executive officer now directly owns 374,158 shares of the company’s stock, valued at approximately $8,542,027.14. The disclosure for this sale can be found here. Insiders have sold a total of 165,428 shares of company stock valued at $3,903,312 in the last ninety days. 2.02% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new stake in Ferro in the 4th quarter valued at about $439,000. Arrowstreet Capital Limited Partnership boosted its holdings in Ferro by 5.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 331,648 shares of the specialty chemicals company’s stock valued at $7,824,000 after purchasing an additional 17,884 shares during the period. BlackRock Inc. boosted its holdings in Ferro by 1.6% in the 4th quarter. BlackRock Inc. now owns 5,437,831 shares of the specialty chemicals company’s stock valued at $128,277,000 after purchasing an additional 87,119 shares during the period. Intrust Bank NA boosted its holdings in Ferro by 39.3% in the 4th quarter. Intrust Bank NA now owns 13,104 shares of the specialty chemicals company’s stock valued at $309,000 after purchasing an additional 3,696 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Ferro by 23.9% in the 4th quarter. Wells Fargo & Company MN now owns 240,211 shares of the specialty chemicals company’s stock valued at $5,668,000 after purchasing an additional 46,313 shares during the period. 97.68% of the stock is owned by institutional investors and hedge funds.

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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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