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

Shares of Ferrari (NYSE:RACE) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $507.14.

A number of equities analysts have recently commented on the stock. UBS Group increased their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and raised their price target for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Evercore ISI raised their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after acquiring an additional 1,178,410 shares in the last quarter. Capital International Investors boosted its holdings in Ferrari by 314.3% in the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after acquiring an additional 791,596 shares in the last quarter. Marshall Wace LLP increased its position in Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after purchasing an additional 461,409 shares during the period. Finally, Capital World Investors raised its holdings in Ferrari by 34.3% in the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after purchasing an additional 245,872 shares in the last quarter.

Ferrari Trading Up 1.9 %

Shares of RACE stock opened at $437.62 on Tuesday. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23. The business’s fifty day moving average is $462.30 and its 200 day moving average is $442.60. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last issued its quarterly 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 business had revenue of $1.64 billion for 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 business’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. Equities research analysts forecast that Ferrari will post 8.75 earnings per share 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.