Ferrari (NYSE:RACE – Get Rating) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Friday.
Other research analysts have also recently issued research reports about the company. UBS Group lifted their target price on Ferrari from $255.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, August 3rd. Sanford C. Bernstein started coverage on Ferrari in a research report on Tuesday, July 19th. They issued a "market perform" rating on the stock. Cheuvreux upgraded Ferrari from a "reduce" rating to a "hold" rating in a research report on Wednesday, June 8th. Jefferies Financial Group upgraded Ferrari from an "underperform" rating to a "hold" rating and set a $180.00 target price on the stock in a research report on Monday, July 4th. Finally, Credit Suisse Group restated a "buy" rating and set a $285.00 price target on shares of Ferrari in a report on Friday, June 10th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $237.00.
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Ferrari Stock Down 1.7 %
RACE stock opened at $189.13 on Friday. The company has a market cap of $34.94 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. The business has a 50-day simple moving average of $202.28 and a 200 day simple moving average of $200.49. Ferrari has a 52 week low of $167.45 and a 52 week high of $278.78. The company has a quick ratio of 3.42, a current ratio of 4.14 and a debt-to-equity ratio of 1.22.
Ferrari (NYSE:RACE – Get Rating) last released its earnings results on Tuesday, August 2nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.27. Ferrari had a return on equity of 40.61% and a net
margin of 19.35%. The firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.19 billion. Sell-side analysts anticipate that Ferrari will post 4.95 EPS for the current fiscal year.
Institutional Trading of Ferrari
Institutional investors have recently added to or reduced their stakes in the stock. Columbia Asset Management acquired a new position in Ferrari in the second quarter valued at approximately $264,000. Captrust Financial Advisors raised its position in shares of Ferrari by 20.7% during the second quarter. Captrust Financial Advisors now owns 6,728 shares of the company's stock worth $1,234,000 after purchasing an additional 1,156 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Ferrari during the second quarter worth approximately $2,902,000. Centiva Capital LP acquired a new position in shares of Ferrari during the second quarter worth approximately $431,000. Finally, Wahed Invest LLC acquired a new position in shares of Ferrari during the second quarter worth approximately $114,000. 32.31% of the stock is currently owned by institutional investors.
Ferrari Company Profile
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Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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