Shares of Ferro Corporation (NYSE:FOE) have been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.20.
FOE has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Ferro Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Ferro Corporation from a “sell” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Monday, July 31st. Deutsche Bank AG reaffirmed a “buy” rating and set a $22.00 target price (up from $20.00) on shares of Ferro Corporation in a report on Monday, July 31st. Longbow Research raised Ferro Corporation from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Monday, June 5th. Finally, KeyCorp reaffirmed a “buy” rating and set a $23.00 target price on shares of Ferro Corporation in a report on Friday, September 1st.
COPYRIGHT VIOLATION WARNING: This news story was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.chaffeybreeze.com/2017/09/16/ferro-corporation-foe-receives-22-00-consensus-price-target-from-brokerages.html.
Ferro Corporation (NYSE:FOE) traded up 1.40% during trading on Wednesday, hitting $20.95. 1,227,359 shares of the stock were exchanged. The stock’s 50 day moving average is $19.36 and its 200-day moving average is $17.40. Ferro Corporation has a one year low of $12.46 and a one year high of $21.05. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 148.58 and a beta of 2.02.
Ferro Corporation (NYSE:FOE) last issued its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. The business had revenue of $348.60 million for the quarter, compared to analysts’ expectations of $336.14 million. During the same period in the previous year, the business earned $0.34 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. On average, equities research analysts expect that Ferro Corporation will post $1.27 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Ferro Corporation by 0.8% during the second quarter. Vanguard Group Inc. now owns 6,756,554 shares of the specialty chemicals company’s stock worth $123,578,000 after acquiring an additional 53,420 shares during the period. BlackRock Inc. grew its holdings in Ferro Corporation by 0.8% during the second quarter. BlackRock Inc. now owns 5,361,227 shares of the specialty chemicals company’s stock worth $98,057,000 after acquiring an additional 41,297 shares during the period. Dimensional Fund Advisors LP grew its holdings in Ferro Corporation by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,332,686 shares of the specialty chemicals company’s stock worth $50,622,000 after acquiring an additional 42,094 shares during the period. Paradice Investment Management LLC grew its holdings in Ferro Corporation by 124.5% during the second quarter. Paradice Investment Management LLC now owns 2,266,259 shares of the specialty chemicals company’s stock worth $27,082,000 after acquiring an additional 1,256,703 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Ferro Corporation by 88.9% during the first quarter. Wellington Management Group LLP now owns 1,960,691 shares of the specialty chemicals company’s stock worth $29,782,000 after acquiring an additional 922,893 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.
About Ferro Corporation
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.
Receive News & Ratings for Ferro Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro Corporation and related companies with MarketBeat.com's FREE daily email newsletter.