Evercore ISI Raises Ferrari (NYSE:RACE) Price Target to $565.00

Ferrari (NYSE:RACE) had its price target raised by Evercore ISI from $475.00 to $565.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target suggests a potential upside of 17.65% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. UBS Group upped their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley upped their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $502.14.

Ferrari Stock Down 0.4 %

Shares of RACE stock opened at $480.23 on Tuesday. The stock’s 50 day simple moving average is $470.61 and its 200 day simple moving average is $436.08. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. Ferrari has a twelve month low of $296.34 and a twelve month high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. Ferrari’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.99 EPS. As a group, equities research analysts forecast that Ferrari will post 8.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new stake in Ferrari in the second quarter worth about $29,000. Register Financial Advisors LLC bought a new stake in shares of Ferrari during the 1st quarter valued at $33,000. Valley Wealth Managers Inc. bought a new stake in shares of Ferrari during the 2nd quarter valued at $33,000. Denver PWM LLC purchased a new position in shares of Ferrari during the 2nd quarter valued at $35,000. Finally, Pittenger & Anderson Inc. lifted its stake in shares of Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after buying an additional 59 shares in the last quarter.

Ferrari Company Profile

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.