Zacks #1 Ferro Decently Valued

Ferro Corp. (FOE - Snapshot Report) is trading near at $23.27, a shade below its 52-week high of $24.13. The company has recently announced a price hike of 6-12% on its porcelain products with the hike touching 20% for some of its specialty products to offset rising raw material costs.

Analysts have raised the company’s earnings forecast per share by 19 cents -- from $1.19 to $1.38 -- over the last three months. With a forward P/E of 13.4, the Zacks #1 stock is nearing value territory.