Ferro Corporation (NYSE:FOE) Rating Reiterated by Deutsche Bank AG

Ferro Corporation (NYSE:FOE)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank AG in a note issued to investors on Monday, July 31st. They presently have a $22.00 price target on the specialty chemicals company’s stock, up from their prior price target of $20.00. Deutsche Bank AG’s price objective would suggest a potential upside of 17.27% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Zacks Investment Research raised Ferro Corporation from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, May 9th. BidaskClub lowered Ferro Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. TheStreet raised Ferro Corporation from a “c” rating to a “b” rating in a research report on Thursday, April 27th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $19.00 target price (up from $16.00) on shares of Ferro Corporation in a research report on Monday, May 1st. Finally, 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 research report on Monday, June 5th. Six analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $20.40.

Shares of Ferro Corporation (FOE) opened at 18.76 on Monday. Ferro Corporation has a 1-year low of $12.35 and a 1-year high of $20.34. The company’s 50 day moving average is $18.69 and its 200-day moving average is $16.51. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 133.05 and a beta of 2.02.

Ferro Corporation (NYSE:FOE) last released its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.33 by $0.04. The firm had revenue of $348.60 million for the quarter, compared to analyst estimates of $336.14 million. Ferro Corporation had a return on equity of 35.05% and a net margin of 1.06%. Ferro Corporation’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. Equities analysts anticipate that Ferro Corporation will post $1.27 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Ferro Corporation by 1.0% in the second quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock worth $213,000 after buying an additional 120 shares during the last quarter. Amalgamated Bank increased its position in shares of Ferro Corporation by 5.5% in the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock worth $197,000 after buying an additional 564 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Ferro Corporation by 1.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 58,315 shares of the specialty chemicals company’s stock worth $886,000 after buying an additional 1,064 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Ferro Corporation by 14.7% in the first quarter. Envestnet Asset Management Inc. now owns 13,867 shares of the specialty chemicals company’s stock worth $211,000 after buying an additional 1,782 shares during the last quarter. Finally, American International Group Inc. increased its position in shares of Ferro Corporation by 7.1% in the first quarter. American International Group Inc. now owns 51,254 shares of the specialty chemicals company’s stock worth $779,000 after buying an additional 3,386 shares during the last quarter. Hedge funds and other institutional investors own 95.98% of the company’s stock.

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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