Ferrari (NYSE:RACE) Receives $481.67 Consensus PT from Analysts

Shares of Ferrari (NYSE:RACE) have received an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $481.67.

Several brokerages have recently commented on RACE. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. UBS Group boosted their price target on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley boosted their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th.

Institutional Trading of Ferrari

Several hedge funds have recently added to or reduced their stakes in the business. Rothschild Investment LLC bought a new stake in shares of Ferrari during the 2nd quarter worth about $29,000. Register Financial Advisors LLC bought a new stake in Ferrari during the first quarter worth approximately $33,000. Valley Wealth Managers Inc. acquired a new stake in Ferrari in the second quarter worth approximately $33,000. Denver PWM LLC bought a new position in Ferrari during the 2nd quarter valued at $35,000. Finally, Pittenger & Anderson Inc. increased its position in shares of Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after purchasing an additional 59 shares during the period.

Ferrari Stock Down 0.1 %

Shares of NYSE:RACE opened at $449.81 on Monday. The stock’s 50-day moving average price is $459.71 and its two-hundred day moving average price is $433.14. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. Ferrari has a 12-month low of $296.34 and a 12-month high of $498.23.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the business earned $1.99 EPS. Ferrari’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities analysts expect that Ferrari will post 8.81 EPS 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.