Ferrari (NYSE:RACE) Receives $507.14 Average PT from Brokerages

Shares of Ferrari (NYSE:RACE) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $507.14.

A number of research firms recently weighed in on RACE. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI raised their target price 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. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Finally, UBS Group lifted 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.

Institutional Trading of Ferrari

Several hedge funds and other institutional investors have recently modified their holdings of RACE. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari during the 4th quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Ferrari during the 3rd quarter worth about $29,000. Planning Capital Management Corp bought a new stake in shares of Ferrari during the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new stake in Ferrari in the 3rd quarter worth about $33,000. Finally, Armstrong Advisory Group Inc. raised its stake in Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares in the last quarter.

Ferrari Trading Up 7.1 %

Shares of NYSE:RACE opened at $459.32 on Friday. Ferrari has a 12 month low of $368.80 and a 12 month high of $498.23. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The company’s fifty day simple moving average is $433.53 and its 200 day simple moving average is $448.75. The firm has a market cap of $111.96 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 3.72 and a beta of 0.95.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates 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% on a year-over-year basis. During the same period last year, the business posted $1.98 EPS. As a group, research analysts forecast that Ferrari will post 8.59 EPS 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.