Evercore ISI Raises Ferrari (NYSE:RACE) Price Target to $465.00

Ferrari (NYSE:RACE) had its target price upped by Evercore ISI from $430.00 to $465.00 in a research report released on Monday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research analysts also recently commented on RACE. StockNews.com raised Ferrari from a hold rating to a buy rating in a report on Friday, March 22nd. Sanford C. Bernstein boosted their target price on Ferrari from $448.00 to $512.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Barclays lowered Ferrari from an overweight rating to an equal weight rating in a research report on Thursday, April 4th. Citigroup downgraded Ferrari from a neutral rating to a sell rating in a research note on Monday, March 4th. Finally, Bank of America upped their price objective on Ferrari from $458.00 to $512.00 and gave the company a buy rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $413.86.

Ferrari Trading Down 1.9 %

Shares of RACE opened at $412.19 on Monday. Ferrari has a 52-week low of $273.39 and a 52-week high of $442.80. The business’s fifty day moving average is $419.59 and its 200-day moving average is $370.21. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. As a group, analysts forecast that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $2.443 per share. The ex-dividend date is Monday, April 22nd. This represents a dividend yield of 0.62%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Jamison Private Wealth Management Inc. purchased a new stake in shares of Ferrari during the fourth quarter worth about $27,000. IAG Wealth Partners LLC purchased a new position in shares of Ferrari during the first quarter valued at approximately $33,000. Register Financial Advisors LLC purchased a new position in shares of Ferrari during the first quarter valued at approximately $33,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after acquiring an additional 80 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares in the last quarter.

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.