StockNews.com downgraded shares of Ferrari (NYSE:RACE – Get Rating) from a buy rating to a hold rating in a research report report published on Monday.
Other equities analysts have also recently issued research reports about the stock. Kepler Capital Markets raised shares of Ferrari to a hold rating and set a $185.00 target price on the stock in a report on Friday, July 8th. Jefferies Financial Group upgraded shares of Ferrari from an underperform rating to a hold rating and set a $180.00 price target on the stock in a research note on Monday, July 4th. UBS Group raised their price target on shares of Ferrari from $255.00 to $270.00 and gave the company a buy rating in a research note on Wednesday, August 3rd. Cheuvreux upgraded shares of Ferrari from a reduce rating to a hold rating in a research note on Wednesday, June 8th. Finally, Credit Suisse Group restated a buy rating and issued a $285.00 price target on shares of Ferrari in a research note on Friday, June 10th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $237.00.
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Ferrari Stock Performance
Shares of NYSE RACE opened at $186.70 on Monday. The company has a quick ratio of 3.42, a current ratio of 4.14 and a debt-to-equity ratio of 1.22. The firm's 50-day moving average price is $200.76 and its two-hundred day moving average price is $200.02. Ferrari has a 52-week low of $167.45 and a 52-week high of $278.78. The stock has a market capitalization of $34.49 billion, a P/E ratio of 33.70, a P/E/G ratio of 3.32 and a beta of 0.95.
Ferrari (NYSE:RACE – Get Rating) last issued its earnings results on Tuesday, August 2nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.27. Ferrari had a net
margin of 19.35% and a return on equity of 40.61%. The firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.19 billion. As a group, sell-side analysts forecast that Ferrari will post 4.86 earnings per share for the current year.
Institutional Trading of Ferrari
A number of large investors have recently added to or reduced their stakes in the business. Highland Capital Management LLC boosted its holdings in Ferrari by 1.0% during the first quarter. Highland Capital Management LLC now owns 5,250 shares of the company's stock worth $1,145,000 after buying an additional 50 shares in the last quarter. Atlas Capital Advisors LLC boosted its stake in Ferrari by 7.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 774 shares of the company's stock worth $169,000 after purchasing an additional 53 shares during the period. Atria Investments LLC boosted its stake in Ferrari by 0.7% in the 1st quarter. Atria Investments LLC now owns 8,582 shares of the company's stock worth $1,872,000 after purchasing an additional 62 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in Ferrari by 3.8% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 1,676 shares of the company's stock worth $309,000 after purchasing an additional 62 shares during the period. Finally, Blair William & Co. IL boosted its stake in Ferrari by 2.1% in the 1st quarter. Blair William & Co. IL now owns 3,112 shares of the company's stock worth $679,000 after purchasing an additional 65 shares during the period. 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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