Ferrari (NYSE:RACE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Ferrari (NYSE:RACEGet Rating) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with 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 $228.89.

Several brokerages have issued reports on RACE. UBS Group lifted their price objective on Ferrari from $255.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Morgan Stanley cut their price objective on Ferrari from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Finally, HSBC upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, October 27th.

Institutional Investors Weigh In On Ferrari

Institutional investors and hedge funds have recently made changes to their positions in the company. National Asset Management Inc. grew its stake in shares of Ferrari by 39.9% during the first quarter. National Asset Management Inc. now owns 1,792 shares of the company’s stock worth $391,000 after purchasing an additional 511 shares during the period. Banque Pictet & Cie SA grew its stake in shares of Ferrari by 177.8% during the first quarter. Banque Pictet & Cie SA now owns 12,417 shares of the company’s stock worth $2,745,000 after purchasing an additional 7,948 shares during the period. Prospera Financial Services Inc acquired a new position in Ferrari in the first quarter valued at about $59,000. Pacific Sun Financial Corp grew its stake in Ferrari by 7.4% in the first quarter. Pacific Sun Financial Corp now owns 1,093 shares of the company’s stock valued at $238,000 after acquiring an additional 75 shares during the period. Finally, New York State Common Retirement Fund grew its stake in Ferrari by 30.1% in the first quarter. New York State Common Retirement Fund now owns 217,128 shares of the company’s stock valued at $47,353,000 after acquiring an additional 50,221 shares during the period. Institutional investors own 32.31% of the company’s stock.

Ferrari Price Performance

Ferrari stock opened at $217.59 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.74. The company has a market capitalization of $40.20 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 3.55 and a beta of 0.94. Ferrari has a one year low of $167.45 and a one year high of $271.95. The business has a 50 day simple moving average of $196.18 and a 200 day simple moving average of $195.58.

Ferrari (NYSE:RACEGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.14 by $0.10. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.15 billion. Ferrari had a return on equity of 40.02% and a net margin of 19.00%. On average, sell-side analysts forecast that Ferrari will post 5.13 EPS for the current fiscal year.

About Ferrari

(Get Rating)

Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The firm’s models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari, and the FF four-wheel drive. It participates in car racing such as Formula One.

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