Ferrari (NYSE:RACE) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Stock analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari (NYSE:RACE) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set a “hold” rating on the stock.

Other equities research analysts have also issued reports about the stock. UBS Group lifted their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI boosted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $385.00 to $525.00 in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $507.14.

Ferrari Price Performance

Shares of NYSE:RACE opened at $464.54 on Thursday. The company has a 50 day moving average of $434.09 and a 200 day moving average of $449.06. The stock has a market cap of $113.23 billion, a P/E ratio of 53.95, a P/E/G ratio of 3.72 and a beta of 0.95. Ferrari has a 12 month low of $373.79 and a 12 month high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last announced its earnings results 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 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 the consensus estimate of $1.80 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Ferrari will post 8.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Ferrari

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Silphium Asset Management Ltd raised its holdings in Ferrari by 12.7% during the 4th quarter. Silphium Asset Management Ltd now owns 8,123 shares of the company’s stock valued at $3,451,000 after buying an additional 915 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Ferrari during the 4th quarter valued at $53,000. Jones Financial Companies Lllp raised its holdings in Ferrari by 15.5% during the 4th quarter. Jones Financial Companies Lllp now owns 5,337 shares of the company’s stock valued at $2,267,000 after buying an additional 718 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Ferrari by 118.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 430 shares of the company’s stock valued at $184,000 after purchasing an additional 233 shares during the period. Finally, Capital Wealth Planning LLC increased its position in Ferrari by 8.8% during the 4th quarter. Capital Wealth Planning LLC now owns 9,106 shares of the company’s stock valued at $3,869,000 after purchasing an additional 736 shares during the period.

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.