Ferrari (RACE) Price Target Increased to $105.00 by Analysts at Morgan Stanley

Ferrari (NYSE:RACE) had its target price hoisted by Morgan Stanley from $100.00 to $105.00 in a report published on Wednesday morning. The firm currently has an underweight rating on the stock.

A number of other research analysts have also recently commented on RACE. Zacks Investment Research cut shares of Ferrari from a buy rating to a sell rating in a report on Thursday, February 8th. TheStreet raised shares of Ferrari from a c rating to a b- rating in a research note on Friday, October 20th. Jefferies Group upped their price objective on shares of Ferrari to $130.00 and gave the stock a buy rating in a research note on Friday, December 8th. HSBC initiated coverage on shares of Ferrari in a research note on Monday, December 11th. They issued a hold rating for the company. Finally, BidaskClub lowered shares of Ferrari from a strong-buy rating to a buy rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $118.57.

Ferrari (NYSE RACE) traded up $2.21 during midday trading on Wednesday, hitting $128.09. 230,106 shares of the stock were exchanged, compared to its average volume of 655,403. The company has a current ratio of 3.26, a quick ratio of 2.68 and a debt-to-equity ratio of 2.77. The company has a market capitalization of $23,386.84, a PE ratio of 40.52, a PEG ratio of 2.47 and a beta of 1.59. Ferrari has a 12-month low of $64.76 and a 12-month high of $130.63.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.03). The company had revenue of $840.00 million during the quarter, compared to the consensus estimate of $869.74 million. Ferrari had a return on equity of 98.82% and a net margin of 15.74%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. research analysts forecast that Ferrari will post 3.59 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group purchased a new stake in Ferrari in the third quarter worth about $263,000. Comerica Bank lifted its position in shares of Ferrari by 18.5% during the third quarter. Comerica Bank now owns 12,040 shares of the company’s stock valued at $1,411,000 after buying an additional 1,880 shares during the last quarter. Sei Investments Co. lifted its position in shares of Ferrari by 1,401.8% during the third quarter. Sei Investments Co. now owns 95,937 shares of the company’s stock valued at $10,599,000 after buying an additional 89,549 shares during the last quarter. Cavalier Investments LLC lifted its position in shares of Ferrari by 35.7% during the third quarter. Cavalier Investments LLC now owns 11,400 shares of the company’s stock valued at $1,259,000 after buying an additional 3,000 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Ferrari by 142.2% during the second quarter. Royal Bank of Canada now owns 10,758 shares of the company’s stock valued at $925,000 after buying an additional 6,316 shares during the last quarter. 31.93% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Ferrari (RACE) Price Target Increased to $105.00 by Analysts at Morgan Stanley” was posted by Markets Daily and is owned by of Markets Daily. If you are viewing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.themarketsdaily.com/2018/02/15/ferrari-race-price-target-increased-to-105-00-by-analysts-at-morgan-stanley.html.

About Ferrari

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.

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.

Latest News

Leave a Reply