Ferrari (NYSE:RACE) Stock Rating Lowered by StockNews.com

Ferrari (NYSE:RACE) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other research analysts have also commented on RACE. Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Evercore ISI boosted their price objective on Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday. Bank of America boosted their target price on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Sanford C. Bernstein boosted their target price on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $413.86.

Ferrari Trading Down 1.9 %

RACE stock opened at $412.19 on Wednesday. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81. Ferrari has a twelve month low of $273.39 and a twelve month high of $442.80. The stock has a 50-day simple moving average of $419.59 and a two-hundred day simple moving average of $370.21.

Ferrari (NYSE:RACE) last posted its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. As a group, sell-side analysts predict that Ferrari will post 8.31 EPS for the current year.

Hedge Funds Weigh In On Ferrari

Several hedge funds have recently made changes to their positions in RACE. Jamison Private Wealth Management Inc. purchased a new stake in Ferrari in the fourth quarter worth $27,000. IAG Wealth Partners LLC purchased a new stake in Ferrari in the first quarter worth $33,000. Register Financial Advisors LLC purchased a new stake in Ferrari in the first quarter worth $33,000. Householder Group Estate & Retirement Specialist LLC grew its stake in Ferrari by 320.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after purchasing an additional 80 shares during the period. Finally, Blue Trust Inc. grew its stake in Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares during the period.

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.