Ferrari (NYSE:RACE) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Ferrari (NYSE:RACE) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $507.14.

Several equities analysts recently weighed in on the company. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $385.00 to $525.00 in a report on Friday, October 11th. 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 report on Tuesday, October 22nd. Finally, UBS Group increased their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

Ferrari Price Performance

NYSE:RACE opened at $429.50 on Wednesday. The firm has a market cap of $79.35 billion, a price-to-earnings ratio of 49.88, a price-to-earnings-growth ratio of 4.26 and a beta of 0.95. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company’s 50-day moving average is $436.85 and its two-hundred day moving average is $447.82.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The firm had revenue of $1.64 billion for 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 firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 EPS. Research analysts expect that Ferrari will post 8.58 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Ferrari during the third quarter valued at about $29,000. Planning Capital Management Corp acquired a new position in shares of Ferrari in the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Ferrari in the third quarter worth $33,000. Valley Wealth Managers Inc. bought a new stake in shares of Ferrari in the second quarter worth $33,000. Finally, FSC Wealth Advisors LLC bought a new position in Ferrari during the 3rd quarter valued at $47,000.

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.