Ferrari (NYSE:RACE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Ferrari (NYSE:RACE) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $507.14.

RACE has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price objective on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Finally, UBS Group increased their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th.

Ferrari Stock Performance

Shares of NYSE RACE opened at $434.98 on Tuesday. The firm’s 50 day moving average price is $465.48 and its 200-day moving average price is $442.44. Ferrari has a 52-week low of $330.15 and a 52-week 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.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 EPS. On average, research analysts forecast that Ferrari will post 8.75 earnings per share for the current year.

Institutional Trading of Ferrari

A number of hedge funds and other institutional investors have recently modified their holdings of RACE. Avantax Advisory Services Inc. purchased a new position in Ferrari during the first quarter valued at $449,000. Blair William & Co. IL boosted its position in Ferrari by 3.3% in the 1st quarter. Blair William & Co. IL now owns 3,731 shares of the company’s stock valued at $1,626,000 after buying an additional 120 shares during the period. Vanguard Group Inc. raised its holdings in shares of Ferrari by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after purchasing an additional 61,588 shares in the last quarter. TIAA Trust National Association bought a new stake in shares of Ferrari in the 1st quarter valued at about $250,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Ferrari by 14.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,250 shares of the company’s stock worth $3,161,000 after acquiring an additional 940 shares in the last quarter.

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.