Ferrari (NYSE:RACE) Stock Rating Lowered by Barclays

Ferrari (NYSE:RACE) was downgraded by stock analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Wednesday, Marketbeat Ratings reports.

A number of other equities analysts have also issued reports on RACE. UBS Group increased their price target 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 target price for the company from $385.00 to $525.00 in a report on Friday, October 11th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Evercore ISI raised their price target on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Performance

Shares of RACE stock opened at $461.67 on Wednesday. The stock has a fifty day moving average price of $434.75 and a 200 day moving average price of $449.16. The stock has a market cap of $112.53 billion, a PE ratio of 53.62, a P/E/G ratio of 3.72 and a beta of 0.95. Ferrari has a 1 year low of $375.31 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.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the firm posted $1.98 EPS. Ferrari’s revenue was up 6.5% on a year-over-year basis. Sell-side analysts forecast that Ferrari will post 8.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ferrari

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RACE. Cerity Partners LLC boosted its holdings in shares of Ferrari by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after purchasing an additional 3,308 shares during the last quarter. Miracle Mile Advisors LLC increased its position in shares of Ferrari by 123.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock worth $3,826,000 after acquiring an additional 4,983 shares during the period. Mediolanum International Funds Ltd increased its position in shares of Ferrari by 24.7% during the fourth quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock worth $3,874,000 after acquiring an additional 1,796 shares during the period. Rheos Capital Works Inc. increased its holdings in Ferrari by 30.3% in the third quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock valued at $52,511,000 after buying an additional 26,000 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in Ferrari by 1.4% in the third quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock valued at $23,948,000 after buying an additional 693 shares during the last quarter.

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.