Ferrari (NYSE:RACE) Receives $526.25 Average Price Target from Analysts

Shares of Ferrari (NYSE:RACE) have been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $526.25.

A number of brokerages have weighed in on RACE. UBS Group increased their price target on Ferrari from $520.00 to $560.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Wall Street Zen lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. reduced their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Finally, Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Ferrari in the 4th quarter valued at $697,226,000. Goldman Sachs Group Inc. increased its holdings in Ferrari by 52.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock valued at $974,332,000 after purchasing an additional 781,587 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ferrari by 49.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock valued at $763,125,000 after purchasing an additional 594,547 shares in the last quarter. Barclays PLC increased its holdings in Ferrari by 198.0% in the 4th quarter. Barclays PLC now owns 853,971 shares of the company’s stock valued at $362,802,000 after purchasing an additional 567,407 shares in the last quarter. Finally, Groupe la Francaise acquired a new stake in Ferrari in the 1st quarter valued at $238,818,000.

Ferrari Price Performance

RACE stock opened at $462.31 on Friday. Ferrari has a 1 year low of $391.54 and a 1 year high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock’s 50 day moving average price is $466.59 and its 200 day moving average price is $452.14. The firm has a market cap of $112.05 billion, a P/E ratio of 50.53, a PEG ratio of 4.43 and a beta of 1.10.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company earned $1.95 EPS. Ferrari’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts expect that Ferrari will post 9.22 earnings per share for the current fiscal year.

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.