Brokerages Set Ferrari NV (RACE) Price Target at $142.50

Ferrari NV (NYSE:RACE) has received a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $142.50.

RACE has been the subject of several research reports. Zacks Investment Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 21st. HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. ValuEngine raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Morgan Stanley raised shares of Ferrari from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $110.00 to $120.00 in a report on Thursday, August 2nd. Finally, Credit Suisse Group increased their price target on shares of Ferrari from $156.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, September 20th.

RACE opened at $139.00 on Friday. Ferrari has a 52 week low of $103.65 and a 52 week high of $149.85. The stock has a market cap of $25.98 billion, a price-to-earnings ratio of 43.57, a P/E/G ratio of 2.17 and a beta of 1.21. The company has a quick ratio of 2.71, a current ratio of 3.36 and a debt-to-equity ratio of 2.00.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Wednesday, August 1st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.90 by $0.10. Ferrari had a net margin of 17.18% and a return on equity of 72.38%. The business had revenue of $906.00 million during the quarter, compared to the consensus estimate of $925.46 million. During the same quarter in the prior year, the firm earned $0.72 EPS. The business’s revenue was down 1.5% on a year-over-year basis. sell-side analysts forecast that Ferrari will post 3.66 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Wedbush Securities Inc. lifted its stake in Ferrari by 16.4% in the second quarter. Wedbush Securities Inc. now owns 2,945 shares of the company’s stock worth $398,000 after purchasing an additional 415 shares during the last quarter. Comerica Bank lifted its stake in Ferrari by 3.7% in the first quarter. Comerica Bank now owns 12,730 shares of the company’s stock worth $1,568,000 after purchasing an additional 458 shares during the last quarter. Gideon Capital Advisors Inc. lifted its stake in Ferrari by 29.8% in the first quarter. Gideon Capital Advisors Inc. now owns 2,508 shares of the company’s stock worth $302,000 after purchasing an additional 576 shares during the last quarter. Voya Investment Management LLC lifted its stake in Ferrari by 4.5% in the second quarter. Voya Investment Management LLC now owns 14,935 shares of the company’s stock worth $2,031,000 after purchasing an additional 646 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Ferrari by 5.6% during the first quarter. US Bancorp DE now owns 13,540 shares of the company’s stock worth $1,631,000 after acquiring an additional 714 shares during the period. 34.26% of the stock is owned by hedge funds and other institutional investors.

Ferrari Company Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.

Featured Article: What is a stock split?

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.

Leave a Reply