Brokerages Set Ferrari (NYSE:RACE) Target Price at $507.14

Ferrari (NYSE:RACE) has been given an average recommendation of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $507.14.

RACE has been the subject of several analyst reports. Evercore ISI boosted their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Finally, StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th.

Ferrari Stock Performance

Shares of Ferrari stock opened at $429.50 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a 50 day simple moving average of $436.85 and a 200 day simple moving average of $447.40. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The firm has a market cap of $79.35 billion, a P/E ratio of 49.88, a P/E/G ratio of 4.26 and a beta of 0.95.

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 business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $1.98 EPS. Sell-side analysts predict that Ferrari will post 8.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ferrari

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its stake in Ferrari by 8.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,539 shares of the company’s stock valued at $1,194,000 after buying an additional 194 shares during the period. Diversified Trust Co acquired a new stake in Ferrari during the 4th quarter valued at $264,000. Lord Abbett & CO. LLC boosted its position in Ferrari by 2.4% during the third quarter. Lord Abbett & CO. LLC now owns 83,191 shares of the company’s stock worth $39,109,000 after purchasing an additional 1,967 shares during the period. American Trust increased its holdings in shares of Ferrari by 117.0% in the third quarter. American Trust now owns 2,554 shares of the company’s stock valued at $1,201,000 after purchasing an additional 1,377 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Ferrari by 60.0% in the third quarter. Franklin Resources Inc. now owns 22,055 shares of the company’s stock valued at $10,707,000 after purchasing an additional 8,267 shares during the period.

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.