Shares of Ferrari N.V. (NYSE:RACE) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $101.75.
RACE has been the subject of a number of analyst reports. Bank of America Corporation restated a “buy” rating and set a $100.00 price objective (up previously from $90.00) on shares of Ferrari N.V. in a report on Friday, June 16th. UBS AG reiterated a “buy” rating and issued a $100.00 price target (up previously from $92.00) on shares of Ferrari N.V. in a report on Tuesday, July 11th. Zacks Investment Research cut shares of Ferrari N.V. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 11th. Berenberg Bank reiterated a “buy” rating on shares of Ferrari N.V. in a report on Monday, August 14th. Finally, Evercore ISI upped their price target on shares of Ferrari N.V. from $46.00 to $105.00 and gave the company an “in-line” rating in a report on Friday, September 1st.
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Ferrari N.V. (NYSE RACE) traded up 0.73% during trading on Friday, reaching $115.67. 546,739 shares of the company were exchanged. The firm has a 50-day moving average of $112.68 and a 200-day moving average of $94.18. Ferrari N.V. has a 52-week low of $50.39 and a 52-week high of $118.10. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 37.74 and a beta of 1.71.
Ferrari N.V. (NYSE:RACE) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.13. The firm had revenue of $1.01 billion during the quarter. Ferrari N.V. had a net margin of 14.43% and a return on equity of 128.49%. On average, equities analysts forecast that Ferrari N.V. will post $3.18 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in RACE. Victory Capital Management Inc. acquired a new position in shares of Ferrari N.V. in the first quarter valued at approximately $127,000. Aviance Capital Management LLC acquired a new position in shares of Ferrari N.V. in the second quarter valued at approximately $130,000. PNC Financial Services Group Inc. boosted its holdings in shares of Ferrari N.V. by 48.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock valued at $135,000 after buying an additional 586 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Ferrari N.V. by 1.2% in the second quarter. Quadrant Capital Group LLC now owns 1,976 shares of the company’s stock valued at $162,000 after buying an additional 24 shares during the period. Finally, Opera Trading Capital acquired a new position in shares of Ferrari N.V. in the second quarter valued at approximately $172,000. Institutional investors own 29.78% of the company’s stock.
About Ferrari N.V.
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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