Ferrari (NYSE:RACE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Ferrari (NYSE:RACE) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $502.14.

RACE has been the subject of a number of research reports. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI upped their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley upped their price objective on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $385.00 to $525.00 in a research report on Friday, October 11th.

Ferrari Trading Down 0.5 %

NYSE:RACE opened at $488.15 on Friday. Ferrari has a 52-week low of $298.53 and a 52-week high of $498.23. The stock has a fifty day moving average of $474.25 and a 200 day moving average of $438.88. 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 (NYSE:RACE) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm posted $1.99 EPS. The company’s revenue was up 16.1% compared to the same quarter last year. On average, equities analysts forecast that Ferrari will post 8.65 EPS for the current fiscal year.

Institutional Trading of Ferrari

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rothschild Investment LLC purchased a new position in Ferrari during the 2nd quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Ferrari during the third quarter valued at approximately $29,000. Register Financial Advisors LLC bought a new position in shares of Ferrari during the first quarter valued at approximately $33,000. Valley Wealth Managers Inc. purchased a new stake in Ferrari in the second quarter worth $33,000. Finally, Denver PWM LLC bought a new stake in Ferrari in the second quarter valued at $35,000.

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.