Ferrari (NYSE:RACE) Given Average Rating of “Moderate Buy” by Analysts

Ferrari (NYSE:RACE) has been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $507.14.

A number of brokerages have recently issued reports on RACE. Evercore ISI upped their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. UBS Group increased their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th.

Ferrari Stock Up 0.3 %

Shares of NYSE RACE opened at $428.23 on Wednesday. The firm has a market cap of $79.12 billion, a price-to-earnings ratio of 49.74, 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 company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock’s 50-day simple moving average is $439.54 and its 200-day simple moving average is $447.54.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Ferrari will post 8.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ferrari

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its stake in Ferrari by 17.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,174 shares of the company’s stock valued at $1,705,000 after purchasing an additional 618 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Ferrari by 43.3% during the 2nd quarter. Acadian Asset Management LLC now owns 6,922 shares of the company’s stock valued at $2,822,000 after purchasing an additional 2,092 shares in the last quarter. Certuity LLC bought a new stake in shares of Ferrari in the 2nd quarter worth approximately $232,000. Caprock Group LLC lifted its stake in Ferrari by 133.3% during the second quarter. Caprock Group LLC now owns 1,792 shares of the company’s stock valued at $732,000 after purchasing an additional 1,024 shares during the last quarter. Finally, PFG Investments LLC grew its position in Ferrari by 22.0% in the second quarter. PFG Investments LLC now owns 4,620 shares of the company’s stock worth $1,886,000 after buying an additional 833 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.