Ferrari (NYSE:RACE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Ferrari (NYSE:RACE) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $507.14.

Several research firms recently commented on RACE. UBS Group upped 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. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Evercore ISI boosted their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley boosted their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th.

Ferrari Price Performance

Shares of Ferrari stock opened at $453.92 on Friday. Ferrari has a 12 month low of $330.15 and a 12 month high of $498.23. The business’s fifty day simple moving average is $455.37 and its 200 day simple moving average is $445.21. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

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

Institutional Trading of Ferrari

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted 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 acquiring an additional 1,180 shares during the last quarter. Cerity Partners LLC raised its stake in Ferrari by 14.0% in the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after purchasing an additional 3,308 shares in the last quarter. Raymond James & Associates lifted its position in Ferrari by 1.3% during the second quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after purchasing an additional 655 shares during the last quarter. Rheos Capital Works Inc. grew its stake in Ferrari by 30.3% in the 3rd quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock worth $52,511,000 after buying an additional 26,000 shares in the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in shares of Ferrari by 1,403.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 6,043 shares of the company’s stock worth $2,841,000 after buying an additional 5,641 shares during the last quarter.

About Ferrari

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.