Zacks Investment Research Lowers Ferro (NYSE:FOE) to Sell

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Zacks Investment Research cut 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. “

FOE has been the topic of a number of other reports. BMO Capital Markets downgraded shares of Stornoway Diamond from a market perform rating to an underperform rating in a report on Monday, April 1st. KeyCorp lowered their price target on shares of Ferro from $26.00 to $23.00 and set an overweight rating on the stock in a report on Tuesday, April 2nd. Northcoast Research downgraded shares of Ferro from a buy rating to a neutral rating in a report on Monday, April 1st. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Finally, Deutsche Bank lowered 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. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. 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 business’s fifty day moving average price is $14.97. Ferro has a 1 year low of $13.52 and a 1 year high of $23.88. The stock has a market capitalization of $1.21 billion, a P/E ratio of 10.85, a PEG ratio of 1.13 and a beta of 1.92. 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 announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. Ferro had a net margin of 4.41% and a return on equity of 30.06%. The firm had revenue of $387.50 million for the quarter, compared to the consensus estimate of $396.60 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities analysts predict that Ferro will post 1.39 earnings per share for the current fiscal year.

In related news, CEO Peter T. Thomas acquired 17,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were acquired at an average cost of $15.92 per share, with a total value of $270,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 677,956 shares in the company, valued at approximately $10,793,059.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Allen A. Spizzo acquired 2,500 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of $15.90 per share, for a total transaction of $39,750.00. Following the completion of the acquisition, the director now owns 2,500 shares of the company’s stock, valued at $39,750. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 24,500 shares of company stock worth $387,490. Insiders own 2.71% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Stifel Financial Corp lifted its stake in shares of Ferro by 3,175.2% in the fourth quarter. Stifel Financial Corp now owns 428,299 shares of the specialty chemicals company’s stock worth $6,688,000 after buying an additional 415,222 shares in the last quarter. American International Group Inc. lifted its stake in shares of Ferro by 14.8% in the first quarter. American International Group Inc. now owns 62,871 shares of the specialty chemicals company’s stock worth $1,190,000 after buying an additional 8,093 shares in the last quarter. Cipher Capital LP purchased a new position in shares of Ferro in the fourth quarter worth about $287,000. American Century Companies Inc. lifted its stake in shares of Ferro by 6.1% in the fourth quarter. American Century Companies Inc. now owns 324,501 shares of the specialty chemicals company’s stock worth $5,088,000 after buying an additional 18,518 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Ferro in the first quarter worth about $541,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

About Ferro

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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