Ferrari (NYSE:RACE) Downgraded by StockNews.com

StockNews.com downgraded shares of Ferrari (NYSE:RACEGet Rating) from a buy rating to a hold rating in a report issued on Wednesday morning.

RACE has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price target on Ferrari from $230.00 to $210.00 in a report on Monday, April 25th. Kepler Capital Markets raised Ferrari to a hold rating and set a $185.00 price target on the stock in a report on Friday, July 8th. Cheuvreux raised Ferrari from a reduce rating to a hold rating in a report on Wednesday, June 8th. BNP Paribas raised Ferrari from a neutral rating to an outperform rating and set a $255.00 price objective on the stock in a report on Tuesday, April 12th. Finally, Morgan Stanley lowered their price objective on Ferrari from $350.00 to $300.00 and set an overweight rating on the stock in a report on Tuesday, May 24th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Ferrari has a consensus rating of Moderate Buy and an average price target of $237.00.

Ferrari Stock Performance

NYSE RACE opened at $211.94 on Wednesday. The company has a quick ratio of 3.24, a current ratio of 4.14 and a debt-to-equity ratio of 1.22. Ferrari has a 52-week low of $167.45 and a 52-week high of $278.78. The business’s 50-day moving average price is $192.39 and its 200 day moving average price is $205.35. The firm has a market cap of $39.16 billion, a P/E ratio of 38.26, a P/E/G ratio of 3.99 and a beta of 0.95.

Ferrari (NYSE:RACEGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. Ferrari had a return on equity of 40.61% and a net margin of 19.35%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.17 billion. On average, equities research analysts expect that Ferrari will post 4.8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new position in Ferrari in the 4th quarter valued at $25,000. Masso Torrence Wealth Management Inc. acquired a new position in Ferrari in the 4th quarter valued at $26,000. MUFG Americas Holdings Corp acquired a new position in Ferrari in the 4th quarter valued at $40,000. Glassman Wealth Services acquired a new stake in shares of Ferrari during the 1st quarter worth $34,000. Finally, MCF Advisors LLC acquired a new stake in shares of Ferrari during the 4th quarter worth $46,000. 38.36% of the stock is currently owned by institutional investors and hedge funds.

Ferrari Company Profile

(Get Rating)

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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