Ferrari (NYSE: RACE) recently received a number of ratings updates from brokerages and research firms:
- 9/1/2023 – Ferrari had its price target raised by analysts at UBS Group AG from $368.00 to $375.00. They now have a “buy” rating on the stock.
- 8/25/2023 – Ferrari had its price target raised by analysts at Jefferies Financial Group Inc. from $275.00 to $300.00. They now have a “hold” rating on the stock.
- 8/18/2023 – Ferrari had its price target raised by analysts at Sanford C. Bernstein from $250.00 to $300.00. They now have a “market perform” rating on the stock.
- 8/17/2023 – Ferrari is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
- 8/3/2023 – Ferrari had its price target raised by analysts at UBS Group AG from $365.00 to $368.00.
- 7/31/2023 – Ferrari had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $340.00 price target on the stock.
- 7/24/2023 – Ferrari had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $340.00 price target on the stock.
- 7/7/2023 – Ferrari had its price target raised by analysts at Morgan Stanley from $310.00 to $340.00.
- 7/6/2023 – Ferrari had its price target raised by analysts at Bank of America Co. from $350.00 to $380.00.
Ferrari Stock Performance
Shares of NYSE:RACE traded down $9.42 during trading on Monday, reaching $308.32. The company had a trading volume of 579,100 shares, compared to its average volume of 343,159. Ferrari has a twelve month low of $176.82 and a twelve month high of $329.88. The firm’s fifty day moving average is $316.56 and its 200 day moving average is $293.58. The company has a current ratio of 3.91, a quick ratio of 3.04 and a debt-to-equity ratio of 0.98.
Ferrari (NYSE:RACE – Get Free Report) last released its earnings results on Wednesday, August 2nd. The company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.77 by $0.22. Ferrari had a net margin of 19.60% and a return on equity of 40.70%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Research analysts forecast that Ferrari will post 7.05 EPS for the current year.
Institutional Inflows and Outflows
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.
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