Ferro Corp. (FOE) Sees Unusually-High Trading Volume
Shares of Ferro Corp. (NYSE:FOE) saw strong trading volume on Monday . 753,240 shares changed hands during mid-day trading, an increase of 50% from the previous session’s volume of 501,658 shares.The stock last traded at $13.47 and had previously closed at $13.23.
FOE has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Ferro Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, July 12th. TheStreet upgraded shares of Ferro Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 8th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Ferro Corp. in a report on Tuesday, July 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.25.
The stock has a market capitalization of $1.12 billion and a price-to-earnings ratio of 20.92. The company’s 50-day moving average is $13.21 and its 200 day moving average is $12.63.
Ferro Corp. (NYSE:FOE) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.07. During the same quarter in the previous year, the company posted $0.20 EPS. The company had revenue of $297.97 million for the quarter, compared to analysts’ expectations of $304 million. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Ferro Corp. will post $1.04 EPS for the current fiscal year.
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.