Ferrari (NYSE:RACE) Receives $507.14 Average Price Target from Analysts

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

A number of equities analysts have recently weighed in on RACE shares. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. 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 research note on Friday, October 11th. UBS Group raised their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Evercore ISI lifted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd.

Institutional Trading of Ferrari

Hedge funds have recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Ferrari during the 3rd quarter worth approximately $29,000. Planning Capital Management Corp bought a new position in Ferrari during the 3rd quarter valued at about $30,000. Valley Wealth Managers Inc. acquired a new stake in shares of Ferrari during the second quarter worth approximately $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Ferrari in the 3rd quarter worth approximately $33,000. Finally, FSC Wealth Advisors LLC bought a new stake in Ferrari during the 3rd quarter worth approximately $47,000.

Ferrari Stock Down 1.0 %

Shares of Ferrari stock opened at $429.50 on Wednesday. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The company has a market cap of $79.35 billion, a P/E ratio of 49.88, a P/E/G ratio of 4.26 and a beta of 0.95. 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 stock has a 50-day moving average price of $436.85 and a 200 day moving average price of $447.40.

Ferrari (NYSE:RACE) last posted 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). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the company earned $1.98 earnings per share. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts expect that Ferrari will post 8.58 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.