Ferro Corp. (NYSE:FOE) shares saw unusually-strong trading volume on Friday . Approximately 899,895 shares traded hands during trading, an increase of 61% from the previous session’s volume of 559,427 shares.The stock last traded at $12.43 and had previously closed at $12.55.
A number of equities research analysts have weighed in on FOE shares. Deutsche Bank AG restated a “buy” rating on shares of Ferro Corp. in a research note on Tuesday, July 19th. Zacks Investment Research upgraded Ferro Corp. from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, July 12th. Finally, TheStreet upgraded Ferro Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $14.25.
The stock has a market capitalization of $1.05 billion, a P/E ratio of 19.64 and a beta of 2.06. The company has a 50-day moving average of $13.17 and a 200 day moving average of $12.91.
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Ferro Corp. (NYSE:FOE) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. Ferro Corp. had a return on equity of 26.92% and a net margin of 4.96%. The company earned $297.97 million during the quarter, compared to analysts’ expectations of $304 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that Ferro Corp. will post $1.04 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Emerald Acquisition Ltd. bought a new stake in shares of Ferro Corp. during the second quarter worth $128,000. Walleye Trading LLC acquired a new position in Ferro Corp. during the second quarter valued at $130,000. ProShare Advisors LLC acquired a new position in Ferro Corp. during the second quarter valued at $136,000. Teacher Retirement System of Texas boosted its position in Ferro Corp. by 11.3% in the second quarter. Teacher Retirement System of Texas now owns 10,648 shares of the company’s stock valued at $142,000 after buying an additional 1,083 shares in the last quarter. Finally, Cutler Group LP boosted its position in Ferro Corp. by 62.4% in the first quarter. Cutler Group LP now owns 12,151 shares of the company’s stock valued at $144,000 after buying an additional 4,669 shares in the last quarter. 90.60% of the stock is owned by institutional investors.
Ferro Corp. Company Profile
Ferro Corporation (Ferro) produces performance materials for a range of manufacturers in diversified industries throughout the world. The Company uses inorganic and organic chemical processes, polymer science and materials science to develop and produce these performance materials. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides.
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