StockNews.com Upgrades Ferrari (NYSE:RACE) to Buy

Ferrari (NYSE:RACEGet Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also commented on RACE. Jefferies Financial Group raised shares of Ferrari from an “underperform” rating to a “hold” rating and set a $180.00 price objective on the stock in a report on Monday, July 4th. Credit Suisse Group reissued a “buy” rating and set a $285.00 price objective on shares of Ferrari in a report on Friday, June 10th. UBS Group upped their target price on shares of Ferrari from $255.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Citigroup cut their target price on shares of Ferrari from €160.00 ($163.27) to €140.00 ($142.86) in a research report on Tuesday, May 31st. Finally, Sanford C. Bernstein began coverage on shares of Ferrari in a research report on Tuesday, July 19th. They set a “market perform” rating on the stock. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $237.00.

Ferrari Stock Down 1.7 %

RACE opened at $189.13 on Friday. Ferrari has a twelve month low of $167.45 and a twelve month high of $278.78. The firm’s 50-day simple moving average is $202.28 and its 200-day simple moving average is $200.49. The company has a debt-to-equity ratio of 1.22, a quick ratio of 3.42 and a current ratio of 4.14. The firm has a market cap of $34.94 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 3.41 and a beta of 0.97.

Ferrari (NYSE:RACEGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.27. Ferrari had a net margin of 19.35% and a return on equity of 40.61%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.19 billion. Equities research analysts anticipate that Ferrari will post 4.95 EPS for the current fiscal year.

Institutional Trading of Ferrari

Hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc. raised its holdings in Ferrari by 1.1% during the 1st quarter. TD Asset Management Inc. now owns 65,197 shares of the company’s stock worth $14,342,000 after buying an additional 731 shares during the period. Keybank National Association OH acquired a new stake in Ferrari during the 1st quarter worth approximately $261,000. Balentine LLC acquired a new stake in Ferrari during the 1st quarter worth approximately $248,000. Inspire Investing LLC acquired a new stake in Ferrari during the 1st quarter worth approximately $963,000. Finally, Norges Bank acquired a new stake in Ferrari during the 4th quarter worth approximately $374,511,000. 32.31% of the stock is currently owned by institutional investors and hedge funds.

Ferrari Company Profile

(Get Rating)

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

See Also

Analyst Recommendations for Ferrari (NYSE:RACE)

Receive News & Ratings for Ferrari Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrari and related companies with MarketBeat.com's FREE daily email newsletter.