Shares of Ferrari (NYSE:RACE – Get Rating) have been assigned an average rating of "Moderate Buy" from the sixteen analysts that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $237.00.
A number of brokerages have recently issued reports on RACE. Jefferies Financial Group raised shares of Ferrari from an "underperform" rating to a "hold" rating and set a $180.00 price objective for the company in a research note on Monday, July 4th. UBS Group lifted their price objective on shares of Ferrari from $255.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, August 3rd. StockNews.com cut shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Monday. Cheuvreux upgraded Ferrari from a "reduce" rating to a "hold" rating in a research report on Wednesday, June 8th. Finally, Sanford C. Bernstein began coverage on Ferrari in a research report on Tuesday, July 19th. They set a "market perform" rating on the stock.
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Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. TD Asset Management Inc. grew its stake in shares of Ferrari by 1.1% during the first quarter. TD Asset Management Inc. now owns 65,197 shares of the company's stock valued at $14,342,000 after buying an additional 731 shares during the last quarter. Keybank National Association OH bought a new position in Ferrari in the first quarter worth approximately $261,000. Balentine LLC bought a new position in Ferrari in the first quarter worth approximately $248,000. Inspire Investing LLC bought a new position in Ferrari in the first quarter worth approximately $963,000. Finally, Norges Bank bought a new position in Ferrari in the fourth quarter worth approximately $374,511,000. Institutional investors own 32.31% of the company's stock.
Ferrari Stock Down 0.1 %
RACE opened at $193.52 on Thursday. The company has a current ratio of 4.14, a quick ratio of 3.42 and a debt-to-equity ratio of 1.22. Ferrari has a 1-year low of $167.45 and a 1-year high of $278.78. The company has a market capitalization of $35.75 billion, a PE ratio of 34.93, a PEG ratio of 3.33 and a beta of 0.95. The firm's 50 day simple moving average is $200.57 and its two-hundred day simple moving average is $199.87.
Ferrari (NYSE:RACE – Get Rating) last announced its quarterly earnings data 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. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.19 billion. Ferrari had a net margin of 19.35% and a return on equity of 40.61%. As a group, equities analysts forecast that Ferrari will post 4.89 EPS for the current year.
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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