UBS AG reissued their buy rating on shares of Ferrari N.V. (NYSE:RACE) in a report issued on Tuesday, July 11th, 99wallstreet.com reports. The brokerage currently has a $100.00 price objective on the stock, up from their previous price objective of $92.00.
RACE has been the topic of several other research reports. TheStreet raised Ferrari N.V. from a d+ rating to a c rating in a report on Wednesday, March 29th. Jefferies Group LLC reaffirmed a buy rating and set a $74.00 target price on shares of Ferrari N.V. in a report on Tuesday, April 18th. Bank of America Corporation reaffirmed a buy rating and set a $100.00 target price (up from $90.00) on shares of Ferrari N.V. in a report on Friday, June 16th. Morgan Stanley reaffirmed an overweight rating and set a $72.00 target price on shares of Ferrari N.V. in a report on Thursday, March 23rd. Finally, Kepler Capital Markets reissued a hold rating on shares of Ferrari N.V. in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $91.67.
Shares of Ferrari N.V. (RACE) traded up 0.09% during trading on Tuesday, hitting $110.66. The stock had a trading volume of 491,009 shares. The stock has a 50 day moving average price of $94.83 and a 200-day moving average price of $78.60. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 37.33 and a beta of 1.82. Ferrari N.V. has a one year low of $46.39 and a one year high of $111.77.
Ferrari N.V. (NYSE:RACE) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.13. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. The company had revenue of $1.01 billion for the quarter. On average, equities research analysts predict that Ferrari N.V. will post $3.09 earnings per share for the current year.
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Hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Ferrari N.V. by 6.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,149 shares of the company’s stock worth $125,000 after buying an additional 128 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Ferrari N.V. during the first quarter worth $127,000. PNC Financial Services Group Inc. increased its position in shares of Ferrari N.V. by 48.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock worth $135,000 after buying an additional 586 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Ferrari N.V. by 188.8% in the first quarter. Quadrant Capital Group LLC now owns 1,952 shares of the company’s stock worth $136,000 after buying an additional 1,276 shares during the last quarter. Finally, Opera Trading Capital acquired a new position in shares of Ferrari N.V. during the second quarter worth $172,000. 32.54% of the stock is owned by hedge funds and other institutional investors.
About Ferrari N.V.
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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