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

Shares of Ferrari (NYSE:RACE) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $507.14.

A number of research analysts have commented on RACE shares. Evercore ISI boosted their target price 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 downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. UBS Group increased their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley raised their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th.

Institutional Trading of Ferrari

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Ferrari by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after buying an additional 61,588 shares during the period. Jennison Associates LLC grew its holdings in shares of Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares in the last quarter. Capital Research Global Investors increased its position in shares of Ferrari by 3.9% during the first quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock valued at $579,585,000 after purchasing an additional 49,367 shares during the period. Legal & General Group Plc raised its stake in shares of Ferrari by 2.4% in the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after purchasing an additional 30,014 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Ferrari by 47,023.5% in the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after purchasing an additional 1,178,410 shares during the period.

Ferrari Price Performance

NYSE RACE opened at $435.24 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market capitalization of $80.41 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 4.07 and a beta of 0.99. The company has a 50 day simple moving average of $461.73 and a 200-day simple moving average of $443.05. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23.

Ferrari (NYSE:RACE) last issued 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the business earned $1.98 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts predict that Ferrari will post 8.66 earnings per share for the current fiscal 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.