Ferrari (NYSE:RACE) Receives Average Rating of “Moderate Buy” from Analysts

Ferrari (NYSE:RACE) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $507.14.

A number of analysts have recently issued reports on RACE shares. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday. They issued a “hold” rating for the company. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. UBS Group lifted their price target 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 lifted their price target for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Thursday.

Hedge Funds Weigh In On Ferrari

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Ferrari during the 4th quarter worth $27,657,000. Assetmark Inc. increased its stake in Ferrari by 17.8% during the 4th quarter. Assetmark Inc. now owns 1,826 shares of the company’s stock worth $776,000 after acquiring an additional 276 shares during the period. Keybank National Association OH increased its stake in Ferrari by 5.3% during the 4th quarter. Keybank National Association OH now owns 1,480 shares of the company’s stock worth $629,000 after acquiring an additional 75 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Ferrari by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock worth $4,307,000 after acquiring an additional 755 shares during the period. Finally, LGT Group Foundation increased its stake in Ferrari by 1.1% during the 4th quarter. LGT Group Foundation now owns 5,109 shares of the company’s stock worth $2,171,000 after acquiring an additional 55 shares during the period.

Ferrari Stock Down 0.5 %

Shares of Ferrari stock opened at $461.67 on Friday. Ferrari has a 12 month low of $375.31 and a 12 month high of $498.23. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock has a market cap of $112.53 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95. The business has a fifty day simple moving average of $434.75 and a 200 day simple moving average of $449.16.

Ferrari (NYSE:RACE) last posted its 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 business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Research analysts predict that Ferrari will post 8.59 EPS for the current year.

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.