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

Shares of Ferrari (NYSE:RACEGet Free Report) have received an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $481.67.

A number of research firms recently weighed in on RACE. Morgan Stanley increased their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Finally, UBS Group raised their price objective on shares of Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th.

View Our Latest Research Report on Ferrari

Institutional Trading of Ferrari

Several hedge funds and other institutional investors have recently modified their holdings of RACE. Steward Partners Investment Advisory LLC increased its holdings in Ferrari by 6,637.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the company’s stock worth $1,049,000 after buying an additional 3,053 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Ferrari by 2.3% during the 4th quarter. Stifel Financial Corp now owns 62,761 shares of the company’s stock valued at $21,241,000 after purchasing an additional 1,439 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Ferrari by 2.9% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,399 shares of the company’s stock valued at $473,000 after purchasing an additional 40 shares during the last quarter. Scotia Capital Inc. boosted its holdings in Ferrari by 6.3% in the fourth quarter. Scotia Capital Inc. now owns 1,563 shares of the company’s stock worth $529,000 after purchasing an additional 92 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its position in Ferrari by 86.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 138 shares of the company’s stock worth $47,000 after buying an additional 64 shares during the last quarter.

Ferrari Stock Down 0.1 %

NYSE RACE opened at $449.81 on Monday. Ferrari has a 12 month low of $296.34 and a 12 month high of $498.23. The company’s 50 day simple moving average is $459.71 and its 200 day simple moving average is $433.14. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01.

Ferrari (NYSE:RACEGet Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 earnings per share. As a group, equities research analysts anticipate that Ferrari will post 8.81 EPS for the current year.

Ferrari Company Profile

(Get Free Report

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.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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