Ferrari (NYSE:RACE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Ferrari (NYSE:RACE) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $507.14.

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, Evercore ISI boosted their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd.

Ferrari Trading Up 0.4 %

Shares of RACE stock opened at $426.93 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a market cap of $78.88 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 4.26 and a beta of 0.95. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The firm has a fifty day moving average price of $452.55 and a 200-day moving average price of $446.15.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the company earned $1.98 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Ferrari will post 8.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RACE. SG Americas Securities LLC lifted its holdings in shares of Ferrari by 86.6% in the 2nd quarter. SG Americas Securities LLC now owns 1,360 shares of the company’s stock valued at $555,000 after acquiring an additional 631 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ferrari by 23.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,104 shares of the company’s stock worth $859,000 after purchasing an additional 402 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Ferrari by 3.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 11,007 shares of the company’s stock worth $4,493,000 after purchasing an additional 326 shares during the period. Blue Trust Inc. increased its position in shares of Ferrari by 3,806.5% during the 2nd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $528,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in Ferrari by 1.3% during the 2nd quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after buying an additional 655 shares during the period.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.