Brokerages Set Ferrari (NYSE:RACE) Price Target at $507.14

Ferrari (NYSE:RACE) has earned an average rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $507.14.

Several equities analysts recently commented on RACE shares. Evercore ISI raised their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday. They issued a “hold” rating for the company. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday.

Institutional Investors Weigh In On Ferrari

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC raised its position in shares of Ferrari by 14.0% during the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after acquiring an additional 3,308 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Ferrari by 123.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock worth $3,826,000 after purchasing an additional 4,983 shares during the period. Mediolanum International Funds Ltd grew its stake in shares of Ferrari by 24.7% during the fourth quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock worth $3,874,000 after purchasing an additional 1,796 shares during the period. Rheos Capital Works Inc. grew its stake in shares of Ferrari by 30.3% during the third quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock worth $52,511,000 after purchasing an additional 26,000 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Ferrari by 1.4% during the third quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock worth $23,948,000 after purchasing an additional 693 shares during the period.

Ferrari Price Performance

Ferrari stock opened at $461.67 on Friday. 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 company has a market capitalization 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. Ferrari has a one year low of $375.31 and a one year high of $498.23. The business has a 50 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 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. Ferrari’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.98 EPS. On average, sell-side analysts forecast that Ferrari will post 8.59 EPS for the current fiscal year.

Ferrari Company Profile

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.