Ferrari (NYSE:RACE) Upgraded to Overweight by Barclays

Barclays upgraded shares of Ferrari (NYSE:RACE) from an equal weight rating to an overweight rating in a research report released on Friday, Marketbeat.com reports.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Ferrari from a buy rating to a hold rating in a research report on Wednesday, May 29th. UBS Group lifted their target price on shares of Ferrari from $448.00 to $478.00 and gave the company a buy rating in a research report on Monday, June 24th. Sanford C. Bernstein lifted their target price on shares of Ferrari from $448.00 to $512.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Morgan Stanley reissued an overweight rating and set a $400.00 price target on shares of Ferrari in a research note on Monday, April 22nd. Finally, Bank of America lifted their price target on shares of Ferrari from $458.00 to $512.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $461.67.

Ferrari Stock Up 2.8 %

RACE stock opened at $433.59 on Friday. The firm has a 50 day moving average of $417.91 and a 200-day moving average of $409.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. Ferrari has a 12 month low of $285.02 and a 12 month high of $442.80.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.20%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Equities analysts expect that Ferrari will post 8.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RACE. Rothschild Investment LLC purchased a new position in Ferrari during the 2nd quarter valued at $29,000. IAG Wealth Partners LLC purchased a new position in Ferrari during the 1st quarter valued at $33,000. Register Financial Advisors LLC purchased a new position in Ferrari during the 1st quarter valued at $33,000. Householder Group Estate & Retirement Specialist LLC increased its position in Ferrari by 320.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after purchasing an additional 80 shares during the period. Finally, Blue Trust Inc. increased its position in Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares during the period.

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.