Ferrari (NYSE:RACE) Lowered to Equal Weight Rating by Barclays

Ferrari (NYSE:RACE) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, MarketBeat reports.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $525.00 in a report on Friday, October 11th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group boosted their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI boosted their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Trading Down 0.5 %

Shares of Ferrari stock opened at $461.67 on Wednesday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $434.75 and a two-hundred day moving average of $449.16. Ferrari has a 12-month low of $375.31 and a 12-month high of $498.23. The stock has a market cap of $112.53 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 EPS. On average, research analysts anticipate that Ferrari will post 8.59 EPS for the current fiscal year.

Institutional Trading of Ferrari

Institutional investors have recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari during the 4th quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Ferrari during the third quarter valued at approximately $29,000. Planning Capital Management Corp purchased a new stake in Ferrari in the third quarter worth $30,000. Ashton Thomas Securities LLC purchased a new stake in Ferrari in the third quarter worth $33,000. Finally, Armstrong Advisory Group Inc. increased its position in Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares during 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.