Brokerages Set Ferrari (NYSE:RACE) PT at $507.14

Ferrari (NYSE:RACE) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $507.14.

Several brokerages recently issued reports on RACE. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. UBS Group increased their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Evercore ISI boosted their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their price target for the company from $385.00 to $525.00 in a research note on Friday, October 11th.

Ferrari Stock Down 0.5 %

NYSE:RACE opened at $435.24 on Tuesday. 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 company has a market capitalization of $80.41 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 4.07 and a beta of 0.99. Ferrari has a one year low of $330.15 and a one year high of $498.23. The stock has a 50-day simple moving average of $461.73 and a 200 day simple moving average of $443.05.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $1.98 EPS. Ferrari’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Ferrari will post 8.66 EPS for the current fiscal year.

Institutional Trading of Ferrari

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Ferrari by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock worth $1,983,498,000 after buying an additional 61,588 shares during the period. Jennison Associates LLC boosted its stake in Ferrari by 910.1% in the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares during the period. Capital Research Global Investors grew its position in Ferrari by 3.9% during the 1st quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock worth $579,585,000 after purchasing an additional 49,367 shares in the last quarter. Legal & General Group Plc raised its stake in Ferrari by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after purchasing an additional 30,014 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Ferrari by 47,023.5% in the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after purchasing an additional 1,178,410 shares in the last quarter.

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.