Ferrari (NYSE:RACE) PT Raised to $478.00 at UBS Group

Ferrari (NYSE:RACE) had its price target boosted by UBS Group from $448.00 to $478.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 12.81% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Jefferies Financial Group initiated coverage on Ferrari in a research note on Friday, May 10th. They set a “hold” rating and a $403.00 price objective for the company. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Sanford C. Bernstein raised their price target on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, Citigroup downgraded shares of Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Ferrari has an average rating of “Hold” and a consensus target price of $461.67.

Ferrari Price Performance

Ferrari stock opened at $423.72 on Monday. Ferrari has a 1 year low of $285.02 and a 1 year high of $442.80. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. The firm has a 50 day moving average price of $415.40 and a 200 day moving average price of $395.48. The company has a market cap of $78.28 billion, a price-to-earnings ratio of 54.11, a PEG ratio of 5.03 and a beta of 1.01.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. Sell-side analysts predict that Ferrari will post 8.2 earnings per share for the current year.

Hedge Funds Weigh In On Ferrari

Several hedge funds have recently added to or reduced their stakes in RACE. Jamison Private Wealth Management Inc. bought a new position in shares of Ferrari during the 4th quarter valued at about $27,000. IAG Wealth Partners LLC bought a new position in Ferrari in the first quarter valued at approximately $33,000. Register Financial Advisors LLC bought a new stake in shares of Ferrari during the first quarter worth $33,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after acquiring an additional 80 shares during the period. Finally, Blue Trust Inc. lifted its position in Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 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.