Ferrari (NYSE:RACE) Upgraded at StockNews.com

Ferrari (NYSE:RACE) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Several other research analysts have also commented on the stock. Sanford C. Bernstein increased their price target on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Bank of America lifted their price target on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Jefferies Financial Group assumed coverage on shares of Ferrari in a research report on Friday, May 10th. They issued a “hold” rating and a $403.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and set a $400.00 price target on shares of Ferrari in a research report on Monday, April 22nd. Finally, UBS Group lifted 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus target price of $461.67.

Ferrari Trading Down 2.4 %

Shares of Ferrari stock traded down $10.57 during trading on Monday, hitting $423.02. 546,896 shares of the stock were exchanged, compared to its average volume of 273,603. Ferrari has a 12 month low of $285.02 and a 12 month high of $442.80. The stock’s fifty day moving average is $417.91 and its 200 day moving average is $410.16. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a return on equity of 45.20% and a net margin of 21.84%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, research analysts forecast that Ferrari will post 8.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RACE. Rothschild Investment LLC acquired a new stake in Ferrari during the 2nd quarter valued at approximately $29,000. IAG Wealth Partners LLC bought a new position in shares of Ferrari in the 1st quarter worth $33,000. Register Financial Advisors LLC bought a new position in Ferrari during the 1st quarter valued at $33,000. Denver PWM LLC bought a new stake in shares of Ferrari during the 2nd quarter worth $35,000. Finally, Pittenger & Anderson Inc. raised 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 worth $41,000 after purchasing an additional 59 shares during the period.

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.