Ferrari (NYSE:RACE) Reaches New 1-Year High at $155.54

Ferrari NV (NYSE:RACE) shares hit a new 52-week high during trading on Thursday . The company traded as high as $155.54 and last traded at $154.63, with a volume of 318200 shares changing hands. The stock had previously closed at $154.72.

RACE has been the subject of a number of analyst reports. Credit Suisse Group increased their price target on shares of Ferrari from $148.00 to $158.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $140.00 to $160.00 in a report on Thursday, May 9th. ValuEngine downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Zacks Investment Research downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Evercore ISI raised shares of Ferrari from an “in-line” rating to an “outperform” rating in a research note on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Ferrari has an average rating of “Hold” and a consensus price target of $141.56.

The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.67 and a current ratio of 4.27. The company has a market capitalization of $29.30 billion, a PE ratio of 38.47, a PEG ratio of 2.29 and a beta of 1.31.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.06. The business had revenue of $940.00 million during the quarter, compared to the consensus estimate of $868.32 million. Ferrari had a net margin of 23.17% and a return on equity of 53.74%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Equities analysts anticipate that Ferrari NV will post 4.01 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. SkyTop Capital Management LLC lifted its stake in Ferrari by 5.3% in the fourth quarter. SkyTop Capital Management LLC now owns 10,000 shares of the company’s stock worth $994,000 after purchasing an additional 500 shares during the last quarter. Virtu Financial LLC increased its position in shares of Ferrari by 151.0% during the first quarter. Virtu Financial LLC now owns 5,353 shares of the company’s stock worth $716,000 after acquiring an additional 3,220 shares during the period. Henry James International Management Inc. increased its position in shares of Ferrari by 51.4% during the first quarter. Henry James International Management Inc. now owns 53,963 shares of the company’s stock worth $7,220,000 after acquiring an additional 18,330 shares during the period. Zweig DiMenna Associates LLC purchased a new position in shares of Ferrari during the first quarter worth approximately $5,018,000. Finally, Baskin Financial Services Inc. increased its position in shares of Ferrari by 6.4% during the first quarter. Baskin Financial Services Inc. now owns 90,674 shares of the company’s stock worth $12,132,000 after acquiring an additional 5,491 shares during the period. 35.99% of the stock is owned by institutional investors and hedge funds.

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About Ferrari (NYSE:RACE)

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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