Brokerages Set Ferrari (NYSE:RACE) PT at $481.67

Ferrari (NYSE:RACE) has earned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $481.67.

RACE has been the topic of several analyst reports. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley lifted 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. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, UBS Group raised their price target on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, June 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RACE. Contravisory Investment Management Inc. grew its holdings in shares of Ferrari by 4.6% during the 2nd quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock valued at $212,000 after acquiring an additional 23 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in Ferrari by 3.3% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock worth $321,000 after purchasing an additional 25 shares during the last quarter. Columbia Asset Management raised its stake in shares of Ferrari by 1.8% during the 2nd quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock worth $582,000 after purchasing an additional 25 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Ferrari by 12.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock valued at $101,000 after buying an additional 27 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Ferrari by 5.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 588 shares of the company’s stock valued at $240,000 after buying an additional 28 shares in the last quarter.

Ferrari Stock Down 1.4 %

Shares of NYSE:RACE opened at $470.70 on Thursday. The firm has a market cap of $86.96 billion, a PE ratio of 60.11, a price-to-earnings-growth ratio of 5.24 and a beta of 1.00. The company has a fifty day simple moving average of $441.74 and a 200 day simple moving average of $426.53. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. Ferrari has a 12-month low of $285.02 and a 12-month high of $498.23.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. Ferrari’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.99 EPS. On average, equities research analysts anticipate that Ferrari will post 8.71 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.