Ferro Co. (NYSE:FOE) has earned an average recommendation of “Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $23.25.
FOE has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Ferro from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, December 27th. ValuEngine cut shares of Ferro from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Northcoast Research reissued a “buy” rating and issued a $28.00 price target on shares of Ferro in a research note on Tuesday, March 6th.
Shares of Ferro (FOE) traded down $0.40 during midday trading on Wednesday, hitting $24.26. 277,605 shares of the stock were exchanged, compared to its average volume of 399,437. The firm has a market cap of $2,073.64, a PE ratio of 36.26 and a beta of 1.76. Ferro has a twelve month low of $13.56 and a twelve month high of $25.50. The company has a quick ratio of 1.41, a current ratio of 2.32 and a debt-to-equity ratio of 2.04.
In related news, General Counsel Mark Hugo Duesenberg sold 12,000 shares of Ferro stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $24.08, for a total value of $288,960.00. Following the sale, the general counsel now owns 180,631 shares of the company’s stock, valued at approximately $4,349,594.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Peter T. Thomas sold 73,583 shares of Ferro stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $23.51, for a total transaction of $1,729,936.33. The disclosure for this sale can be found here. Insiders sold a total of 155,246 shares of company stock worth $3,685,857 in the last three months. 2.02% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Stone Ridge Asset Management LLC purchased a new position in Ferro in the 4th quarter valued at $207,000. SG Americas Securities LLC purchased a new position in Ferro in the 4th quarter valued at $211,000. Intrust Bank NA purchased a new position in Ferro in the 3rd quarter valued at $210,000. Prudential Financial Inc. purchased a new position in Ferro in the 3rd quarter valued at $217,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Ferro in the 4th quarter valued at $237,000. 95.72% of the stock is currently 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 (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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