Ferrari (NYSE:RACE) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Ferrari (NYSE:RACE) have received an average rating of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $481.67.

Several research analysts have recently weighed in on the stock. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. UBS Group boosted their price target on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Morgan Stanley boosted their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th.

Hedge Funds Weigh In On Ferrari

Hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC bought a new stake in Ferrari during the second quarter worth about $29,000. Register Financial Advisors LLC acquired a new stake in shares of Ferrari during the 1st quarter worth approximately $33,000. Valley Wealth Managers Inc. bought a new position in Ferrari in the second quarter valued at approximately $33,000. Denver PWM LLC acquired a new position in Ferrari during the second quarter valued at approximately $35,000. Finally, Pittenger & Anderson Inc. lifted its stake in Ferrari by 168.6% during the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after purchasing an additional 59 shares during the last quarter.

Ferrari Stock Down 1.3 %

RACE stock opened at $471.68 on Monday. Ferrari has a twelve month low of $289.92 and a twelve month high of $498.23. The business has a 50 day moving average price of $455.73 and a two-hundred day moving average price of $432.12. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.21 by $0.08. The company had revenue of $1.71 billion during 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%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.99 EPS. On average, sell-side analysts predict that Ferrari will post 8.81 EPS for the current year.

About Ferrari

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.