Ferrari (NYSE:RACE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Ferrari (NYSE:RACE) have earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $461.67.

Several research analysts have recently issued reports on RACE shares. UBS Group raised their target price on shares of Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, June 24th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Morgan Stanley restated an “overweight” rating and issued a $400.00 target price on shares of Ferrari in a report on Monday, April 22nd. Sanford C. Bernstein raised their target price on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Jefferies Financial Group began coverage on shares of Ferrari in a research report on Friday, May 10th. They set a “hold” rating and a $403.00 price objective on the stock.

Ferrari Stock Up 0.3 %

Shares of NYSE RACE opened at $454.13 on Friday. Ferrari has a one year low of $285.02 and a one year high of $463.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. The firm’s 50 day simple moving average is $420.86 and its two-hundred day simple moving average is $414.76. The stock has a market capitalization of $83.90 billion, a P/E ratio of 58.00, a PEG ratio of 4.71 and a beta of 0.99.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the business earned $1.99 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. As a group, analysts expect that Ferrari will post 8.66 EPS for the current fiscal year.

Institutional Trading of Ferrari

A number of hedge funds have recently modified their holdings of RACE. Norges Bank bought a new stake in shares of Ferrari during the 4th quarter valued at $572,523,000. Capital International Investors boosted its stake in Ferrari by 314.3% in the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after purchasing an additional 791,596 shares in the last quarter. Marshall Wace LLP boosted its stake in Ferrari by 108.4% in the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after purchasing an additional 461,409 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Ferrari by 6,024.9% in the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock worth $166,054,000 after purchasing an additional 374,691 shares in the last quarter. Finally, Capital World Investors boosted its stake in Ferrari by 34.3% in the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after purchasing an additional 245,872 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.