Ferrari (NYSE:RACE) Receives $507.14 Average Price Target from Analysts

Ferrari (NYSE:RACE) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $507.14.

A number of analysts have commented on RACE shares. Evercore ISI raised their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and upped their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group boosted their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

Ferrari Trading Up 0.8 %

Shares of Ferrari stock opened at $421.60 on Wednesday. The company has a market cap of $77.89 billion, a price-to-earnings ratio of 48.97, a PEG ratio of 4.26 and a beta of 0.95. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The company’s fifty day simple moving average is $435.31 and its 200-day simple moving average is $447.97. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 earnings per share. As a group, sell-side analysts expect that Ferrari will post 8.58 EPS for the current year.

Institutional Investors Weigh In On Ferrari

Institutional investors and hedge funds have recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Ferrari in the third quarter valued at approximately $29,000. Planning Capital Management Corp bought a new stake in Ferrari during the 3rd quarter worth approximately $30,000. Valley Wealth Managers Inc. acquired a new stake in Ferrari during the 2nd quarter valued at $33,000. Ashton Thomas Securities LLC bought a new position in Ferrari in the 3rd quarter valued at $33,000. Finally, Armstrong Advisory Group Inc. boosted its stake in Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 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.