Ferrari (NYSE:RACE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ferrari (NYSE:RACE – Get Rating) has received an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned 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 $250.06.

A number of equities research analysts have commented on RACE shares. UBS Group increased their price objective on shares of Ferrari from $274.00 to $330.00 in a research report on Friday, February 3rd. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday, January 20th. Royal Bank of Canada increased their price objective on Ferrari from €261.00 ($277.66) to €265.00 ($281.91) in a report on Monday, December 12th. Credit Suisse Group boosted their target price on Ferrari from $290.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Finally, Citigroup upgraded shares of Ferrari from a “sell” rating to a “neutral” rating and set a $230.60 price target on the stock in a research note on Monday, January 9th.

Ferrari Price Performance

RACE opened at $271.45 on Friday. The business has a fifty day moving average price of $246.23 and a 200 day moving average price of $217.70. The company has a debt-to-equity ratio of 1.08, a current ratio of 4.11 and a quick ratio of 3.74. Ferrari has a 12 month low of $167.45 and a 12 month high of $273.14.

Ferrari (NYSE:RACE – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.01. Ferrari had a return on equity of 38.78% and a net margin of 18.44%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.35 billion. As a group, sell-side analysts anticipate that Ferrari will post 6.04 earnings per share for the current fiscal year.

Institutional Trading of Ferrari

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ronald Blue Trust Inc. raised its stake in Ferrari by 348.4% during the 4th quarter. Ronald Blue Trust Inc. now owns 139 shares of the company’s stock valued at $26,000 after acquiring an additional 108 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of Ferrari during the fourth quarter worth approximately $30,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Ferrari by 47.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 149 shares of the company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Hexagon Capital Partners LLC grew its position in Ferrari by 112.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 181 shares of the company’s stock valued at $33,000 after buying an additional 96 shares during the last quarter. Finally, Trustcore Financial Services LLC acquired a new position in Ferrari in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 32.21% of the company’s stock.

About Ferrari

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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.