Ferrari’s (RACE) Overweight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Ferrari (NYSE:RACE) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $400.00 price target on the stock.

A number of other analysts have also recently commented on RACE. StockNews.com upgraded shares of Ferrari from a hold rating to a buy rating in a research report on Friday, March 22nd. Citigroup lowered Ferrari from a neutral rating to a sell rating in a research report on Monday, March 4th. UBS Group raised their target price on shares of Ferrari from $413.00 to $448.00 and gave the stock a buy rating in a report on Friday, February 2nd. Barclays cut shares of Ferrari from an overweight rating to an equal weight rating in a report on Thursday, April 4th. Finally, Bank of America raised their price objective on shares of Ferrari from $458.00 to $512.00 and gave the stock a buy rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $413.86.

Ferrari Trading Up 1.0 %

NYSE RACE opened at $410.27 on Monday. Ferrari has a 12 month low of $273.39 and a 12 month high of $442.80. The stock has a 50-day simple moving average of $417.43 and a 200 day simple moving average of $368.72. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. On average, analysts expect that Ferrari will post 8.31 earnings per share for the current fiscal year.

Ferrari Announces Dividend

The business also recently declared an annual dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be paid a $2.443 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a yield of 0.62%.

Institutional Trading of Ferrari

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. acquired a new stake in shares of Ferrari in the fourth quarter valued at approximately $27,000. Register Financial Advisors LLC bought a new position in shares of Ferrari during the first quarter worth approximately $33,000. Householder Group Estate & Retirement Specialist LLC boosted its position in shares of Ferrari by 320.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after acquiring an additional 80 shares during the period. Blue Trust Inc. boosted its holdings in 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 purchasing an additional 30 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Ferrari in the fourth quarter valued at approximately $43,000.

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.