Ferro Corporation (FOE) Rating Increased to Buy at Zacks Investment Research

Ferro Corporation (NYSE:FOE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $24.00 price target on the specialty chemicals company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.78% from the stock’s current price.

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. “

FOE has been the subject of several other research reports. Longbow Research raised shares of Ferro Corporation from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Monday, June 5th. BidaskClub cut shares of Ferro Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Deutsche Bank AG reaffirmed a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of Ferro Corporation in a research note on Monday, July 31st. Finally, KeyCorp reaffirmed a “buy” rating and set a $23.00 price objective on shares of Ferro Corporation in a research note on Friday, September 1st. Six analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $22.40.

Ferro Corporation (NYSE:FOE) last posted its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. The firm had revenue of $348.60 million during the quarter, compared to the consensus estimate of $336.14 million. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share.

COPYRIGHT VIOLATION WARNING: “Ferro Corporation (FOE) Rating Increased to Buy at Zacks Investment Research” was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://www.chaffeybreeze.com/2017/09/21/ferro-corporation-foe-rating-increased-to-buy-at-zacks-investment-research.html.

A number of large investors have recently modified their holdings of the stock. Phocas Financial Corp. grew its stake in Ferro Corporation by 4.7% during the second quarter. Phocas Financial Corp. now owns 617,866 shares of the specialty chemicals company’s stock valued at $11,301,000 after acquiring an additional 27,586 shares in the last quarter. Strategic Wealth Advisors Group LLC purchased a new position in Ferro Corporation during the second quarter valued at approximately $518,000. Highlander Capital Management LLC grew its stake in Ferro Corporation by 0.4% during the second quarter. Highlander Capital Management LLC now owns 56,200 shares of the specialty chemicals company’s stock valued at $1,028,000 after acquiring an additional 200 shares in the last quarter. Argent Capital Management LLC grew its stake in Ferro Corporation by 48.3% during the second quarter. Argent Capital Management LLC now owns 173,095 shares of the specialty chemicals company’s stock valued at $3,166,000 after acquiring an additional 56,375 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Ferro Corporation by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 64,370 shares of the specialty chemicals company’s stock valued at $1,178,000 after acquiring an additional 519 shares in the last quarter. 96.56% of the stock is owned by 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.

Latest News

Leave a Reply