Ferrari (NYSE:RACE) Given Consensus Rating of “Hold” by Brokerages

Ferrari (NYSE:RACE) has earned an average recommendation of “Hold” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $461.67.

RACE has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Sanford C. Bernstein raised 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. Morgan Stanley reiterated an “overweight” rating and set a $400.00 price target on shares of Ferrari in a research report on Monday, April 22nd. Finally, UBS Group raised their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th.

Institutional Investors Weigh In On Ferrari

A number of institutional investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. increased its holdings in Ferrari by 4.6% in the 2nd quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock valued at $212,000 after purchasing an additional 23 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Ferrari by 3.3% in the second quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock valued at $321,000 after buying an additional 25 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Ferrari by 12.5% in the first quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock valued at $101,000 after buying an additional 27 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after buying an additional 30 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in Ferrari by 0.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,277 shares of the company’s stock worth $1,865,000 after acquiring an additional 30 shares in the last quarter.

Ferrari Trading Down 0.9 %

Shares of NYSE RACE opened at $423.17 on Wednesday. Ferrari has a 52 week low of $285.02 and a 52 week high of $442.80. The business’s 50 day moving average price is $418.24 and its 200 day moving average price is $406.34. The company has a current ratio of 4.18, a quick ratio of 3.25 and a debt-to-equity ratio of 0.80.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. On average, equities analysts predict that Ferrari will post 8.24 EPS for the current fiscal year.

About Ferrari

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.