Zacks Investment Research downgraded shares of Ferro Corp. (NYSE:FOE) from a hold rating to a sell rating in a research report released on Tuesday.

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. “

Several other equities analysts also recently weighed in on the stock. TheStreet upgraded shares of Ferro Corp. from a hold rating to a buy rating in a report on Monday, August 8th. Deutsche Bank AG restated a buy rating on shares of Ferro Corp. in a report on Tuesday, July 19th.

Shares of Ferro Corp. (NYSE:FOE) opened at 13.15 on Tuesday. Ferro Corp. has a 52 week low of $8.47 and a 52 week high of $14.88. The stock has a market cap of $1.09 billion, a PE ratio of 20.42 and a beta of 1.89. The company’s 50-day moving average is $13.22 and its 200 day moving average is $13.25.

Ferro Corp. (NYSE:FOE) last released its earnings results on Thursday, July 28th. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.07. Ferro Corp. had a net margin of 4.96% and a return on equity of 26.92%. The company earned $297.97 million during the quarter, compared to analysts’ expectations of $304 million. During the same quarter last year, the business earned $0.20 EPS. The business’s revenue was up 11.1% on a year-over-year basis. Analysts forecast that Ferro Corp. will post $1.05 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new stake in shares of Ferro Corp. during the second quarter worth approximately $128,000. Walleye Trading LLC bought a new stake in Ferro Corp. during the second quarter worth about $130,000. ProShare Advisors LLC bought a new stake in Ferro Corp. during the second quarter worth about $136,000. Teacher Retirement System of Texas increased its stake 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 worth $142,000 after buying an additional 1,083 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Ferro Corp. during the second quarter worth about $149,000. Institutional investors and hedge funds own 90.07% of the company’s stock.

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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