Ferro (NYSE:FOE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Ferro (NYSE:FOE) from a hold rating to a sell rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “FERRO CORP. is a worldwide producer of specialty materials for industry by organic and inorganic chemistry. It operates in 21 countries worldwide. Ferro produces a variety of specialty coatings, colors, ceramics, plastics, chemicals, and related products and services. Ferro’s most important product is frit produced for use in porcelain enamels and ceramic glazes. Ferro specialty materials require a high degree of technical service on an individual customer basis. “

Several other equities analysts also recently commented on FOE. BMO Capital Markets downgraded shares of Stornoway Diamond from a market perform rating to an underperform rating in a report on Monday, April 1st. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Northcoast Research downgraded shares of Ferro from a buy rating to a neutral rating in a report on Monday, April 1st. Deutsche Bank cut their price target on shares of Trinseo from $58.00 to $55.00 and set a buy rating on the stock in a report on Wednesday, April 3rd. Finally, KeyCorp lowered their price objective on shares of Ferro from $26.00 to $23.00 and set an overweight rating for the company in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $20.17.

Shares of NYSE:FOE opened at $14.58 on Monday. The company has a market cap of $1.21 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 1.13 and a beta of 1.92. Ferro has a 12 month low of $13.52 and a 12 month high of $23.88. The firm’s 50-day moving average price is $14.97. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.55 and a quick ratio of 1.47.

Ferro (NYSE:FOE) last issued its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $387.50 million for the quarter, compared to the consensus estimate of $396.60 million. Ferro had a net margin of 4.41% and a return on equity of 30.06%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. As a group, analysts predict that Ferro will post 1.39 earnings per share for the current fiscal year.

In other Ferro news, Director Allen A. Spizzo purchased 2,500 shares of the stock in a transaction dated Thursday, May 9th. The stock was purchased at an average price of $15.90 per share, with a total value of $39,750.00. Following the transaction, the director now owns 2,500 shares of the company’s stock, valued at $39,750. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Peter T. Thomas purchased 17,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was acquired at an average cost of $15.92 per share, with a total value of $270,640.00. Following the transaction, the chief executive officer now directly owns 677,956 shares in the company, valued at approximately $10,793,059.52. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 24,500 shares of company stock valued at $387,490. 2.71% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Chartwell Investment Partners LLC lifted its position in shares of Ferro by 0.6% in the 1st quarter. Chartwell Investment Partners LLC now owns 109,860 shares of the specialty chemicals company’s stock worth $2,080,000 after purchasing an additional 670 shares during the period. White Pine Capital LLC lifted its position in shares of Ferro by 1.7% in the 1st quarter. White Pine Capital LLC now owns 44,035 shares of the specialty chemicals company’s stock worth $834,000 after purchasing an additional 750 shares during the period. Prudential Financial Inc. lifted its position in shares of Ferro by 8.1% in the 4th quarter. Prudential Financial Inc. now owns 10,480 shares of the specialty chemicals company’s stock worth $164,000 after purchasing an additional 785 shares during the period. Bank of Montreal Can lifted its position in shares of Ferro by 1.5% in the 1st quarter. Bank of Montreal Can now owns 78,527 shares of the specialty chemicals company’s stock worth $1,487,000 after purchasing an additional 1,165 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Ferro by 3.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 39,370 shares of the specialty chemicals company’s stock worth $617,000 after purchasing an additional 1,351 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Ferro Company Profile

Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, Performance Colors and Glass, and Color Solutions. The company offers frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, dielectrics, electronic glasses, and other specialty coatings.

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