Ferrari’s (RACE) Overweight Rating Reiterated at Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Ferrari (NYSE:RACE) in a research note published on Monday morning, Benzinga reports. They currently have a $400.00 target price on the stock.

Several other research analysts have also recently issued reports on the company. Bank of America lifted their target price on Ferrari from $458.00 to $512.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Sanford C. Bernstein lifted their target price on Ferrari from $448.00 to $512.00 and gave the company an outperform rating in a research report on Thursday, April 18th. StockNews.com raised Ferrari from a hold rating to a buy rating in a research report on Friday, March 22nd. Barclays cut Ferrari from an overweight rating to an equal weight rating in a research report on Thursday, April 4th. Finally, Citigroup cut Ferrari from a neutral rating to a sell rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $413.86.

Ferrari Trading Down 1.0 %

NYSE RACE opened at $420.33 on Monday. The company has a market cap of $77.66 billion, a price-to-earnings ratio of 56.42, a P/E/G ratio of 3.14 and a beta of 0.97. Ferrari has a 52 week low of $273.39 and a 52 week high of $442.80. The business has a 50 day moving average price of $419.13 and a 200-day moving average price of $369.92. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.59 by $0.15. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. As a group, equities analysts expect that Ferrari will post 8.31 earnings per share for the current fiscal year.

Ferrari Announces Dividend

The company also recently declared an annual dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $2.443 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a dividend yield of 0.62%. Ferrari’s payout ratio is 6.91%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RACE. Register Financial Advisors LLC purchased a new stake in Ferrari during the 1st quarter worth about $33,000. Jamison Private Wealth Management Inc. purchased a new stake in Ferrari during the 4th quarter worth about $27,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in Ferrari by 320.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after purchasing an additional 80 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Ferrari in the 1st quarter valued at about $46,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Ferrari in the 1st quarter valued at about $48,000.

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.