Zacks Investment Research upgraded shares of Federal-Mogul Holdings Corp. (NASDAQ:FDML) from a sell rating to a hold rating in a report issued on Friday.

According to Zacks, “FEDERAL MOGUL CORPORATION is a leading global supplier of powertrain, chassis and safety technologies, serving the world’s foremost original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket. The company’s leading technology and innovation, lean manufacturing expertise, as well as marketing and distribution deliver world-class products, brands and services with quality excellence at a competitive cost. Federal-Mogul is focused on its sustainable global profitable growth strategy, creating value and satisfaction for its customers, shareholders and employees. Federal-Mogul was founded in Detroit in 1899. The company is headquartered in Southfield, Michigan, and employs 50,000 people in 35 countries. “

Federal-Mogul Holdings Corp. (NASDAQ:FDML) opened at 9.48 on Friday. The stock has a market capitalization of $1.60 billion, a PE ratio of 69.71 and a beta of 2.97. Federal-Mogul Holdings Corp. has a 12-month low of $3.81 and a 12-month high of $10.15. The company has a 50-day moving average price of $9.45 and a 200-day moving average price of $9.04.

Federal-Mogul Holdings Corp. (NASDAQ:FDML) last announced its earnings results on Wednesday, October 26th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.06. Federal-Mogul Holdings Corp. had a net margin of 0.31% and a return on equity of 16.56%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Analysts expect that Federal-Mogul Holdings Corp. will post $1.00 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in FDML. Gamco Investors INC. ET AL raised its position in shares of Federal-Mogul Holdings Corp. by 1.4% in the second quarter. Gamco Investors INC. ET AL now owns 8,349,777 shares of the company’s stock valued at $69,387,000 after buying an additional 117,564 shares in the last quarter. Staley Capital Advisers Inc. raised its position in shares of Federal-Mogul Holdings Corp. by 1.5% in the third quarter. Staley Capital Advisers Inc. now owns 2,749,000 shares of the company’s stock worth $26,418,000 after buying an additional 40,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Federal-Mogul Holdings Corp. by 1.7% in the second quarter. Vanguard Group Inc. now owns 2,426,788 shares of the company’s stock worth $20,167,000 after buying an additional 40,424 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Federal-Mogul Holdings Corp. by 1.4% in the second quarter. Gabelli Funds LLC now owns 1,978,200 shares of the company’s stock worth $16,439,000 after buying an additional 27,500 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Federal-Mogul Holdings Corp. by 9.2% in the third quarter. BlackRock Fund Advisors now owns 814,240 shares of the company’s stock worth $7,825,000 after buying an additional 68,755 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Federal-Mogul Holdings Corp. Company Profile

Federal-Mogul Holdings Corp, formerly Federal-Mogul Corporation, is a global supplier of technology and innovation in vehicle and industrial products for fuel economy, emissions reduction and safety systems. The Company serves original equipment manufacturers (OEM) and servicers (OES) (collectively OE) of automotive, light, medium and heavy-duty commercial vehicles, off-road, agricultural, marine, rail, aerospace, power generation and industrial equipment, as well as the worldwide aftermarket.

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