Ferro Corporation (NYSE:FOE) has earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.60.
Several research analysts have recently commented on the company. Zacks Investment Research raised Ferro Corporation from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, September 5th. BidaskClub raised Ferro Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. KeyCorp reissued a “buy” rating and set a $23.00 price objective on shares of Ferro Corporation in a report on Friday, September 1st. Finally, Longbow Research reissued a “buy” rating and set a $24.00 price objective (up previously from $22.00) on shares of Ferro Corporation in a report on Wednesday, August 23rd.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in Ferro Corporation by 35.4% in the third quarter. Principal Financial Group Inc. now owns 15,775 shares of the specialty chemicals company’s stock worth $352,000 after buying an additional 4,123 shares in the last quarter. Boston Partners boosted its stake in Ferro Corporation by 2.2% in the third quarter. Boston Partners now owns 820,462 shares of the specialty chemicals company’s stock worth $18,296,000 after buying an additional 17,615 shares in the last quarter. Prudential Financial Inc. purchased a new stake in Ferro Corporation in the third quarter worth approximately $217,000. Mesirow Financial Investment Management Equity Management purchased a new stake in Ferro Corporation in the third quarter worth approximately $16,262,000. Finally, Victory Capital Management Inc. boosted its stake in Ferro Corporation by 78.3% in the third quarter. Victory Capital Management Inc. now owns 2,561,811 shares of the specialty chemicals company’s stock worth $57,128,000 after buying an additional 1,124,721 shares in the last quarter. 96.66% of the stock is owned by institutional investors and hedge funds.
Ferro Corporation (NYSE:FOE) last issued its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Ferro Corporation had a return on equity of 35.77% and a net margin of 3.44%. The company had revenue of $350.01 million during the quarter, compared to analyst estimates of $332.28 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Ferro Corporation’s revenue was up 21.3% on a year-over-year basis. analysts anticipate that Ferro Corporation will post 1.29 EPS for the current year.
Ferro Corporation Company Profile
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.
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