Ferrari (NYSE:RACE) Receives $507.14 Average Price Target from Analysts

Shares of Ferrari (NYSE:RACE) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $507.14.

Several analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their price target for the company from $385.00 to $525.00 in a research report on Friday, October 11th. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI upped their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. UBS Group lifted their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley boosted their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th.

Institutional Investors Weigh In On Ferrari

Several hedge funds have recently modified their holdings of RACE. Rothschild Investment LLC purchased a new position in shares of Ferrari in the 2nd quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Ferrari during the 3rd quarter worth approximately $29,000. Planning Capital Management Corp purchased a new position in Ferrari in the third quarter valued at approximately $30,000. Valley Wealth Managers Inc. acquired a new position in Ferrari during the second quarter valued at approximately $33,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Ferrari during the third quarter worth approximately $33,000.

Ferrari Stock Performance

Shares of RACE stock opened at $436.96 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a market cap of $80.73 billion, a PE ratio of 50.75, a P/E/G ratio of 4.26 and a beta of 0.95. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The stock has a fifty day moving average price of $455.20 and a 200 day moving average price of $446.18.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. Ferrari’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.98 earnings per share. Sell-side analysts forecast that Ferrari will post 8.58 earnings per share for the current fiscal year.

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.