Ferrari (NYSE:RACE) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari (NYSE:RACE) in a research note released on Thursday, Marketbeat reports. The firm issued a hold rating on the stock.

Other equities research analysts have also issued reports about the company. Evercore ISI lifted their price target on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Trading Down 0.5 %

NYSE:RACE opened at $461.67 on Thursday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 1-year low of $375.31 and a 1-year high of $498.23. The firm has a market capitalization of $112.53 billion, a price-to-earnings ratio of 53.62, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95. The stock has a fifty day simple moving average of $434.75 and a 200 day simple moving average of $449.16.

Ferrari (NYSE:RACE) last announced its quarterly earnings data 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 business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $1.98 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts forecast that Ferrari will post 8.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RACE. Jennison Associates LLC increased its position in shares of Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares during the period. International Assets Investment Management LLC increased its position in shares of Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after purchasing an additional 1,178,410 shares during the period. Quadrature Capital Ltd increased its position in shares of Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after purchasing an additional 105,390 shares during the period. BNP Paribas Financial Markets increased its position in shares of Ferrari by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after purchasing an additional 104,366 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Ferrari by 904.5% during the third quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock valued at $51,968,000 after purchasing an additional 99,558 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.