Ferrari (NYSE:RACE) Given Average Rating of “Moderate Buy” by Brokerages

Ferrari (NYSE:RACE) has earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $526.25.

Several equities research analysts have recently issued reports on the company. Wall Street Zen downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. UBS Group upped their target price on shares of Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th.

Ferrari Price Performance

Shares of NYSE:RACE opened at $482.02 on Friday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 1 year low of $391.54 and a 1 year high of $509.13. The business has a fifty day simple moving average of $463.81 and a 200 day simple moving average of $451.66. The firm has a market cap of $116.83 billion, a price-to-earnings ratio of 52.68, a P/E/G ratio of 4.43 and a beta of 1.10.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.06. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $1.95 earnings per share. As a group, sell-side analysts predict that Ferrari will post 9.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ferrari

A number of large investors have recently modified their holdings of RACE. Charles Schwab Investment Management Inc. raised its holdings in shares of Ferrari by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock valued at $4,307,000 after purchasing an additional 755 shares during the period. Fox Run Management L.L.C. bought a new position in Ferrari in the 4th quarter valued at about $853,000. Zurich Insurance Group Ltd FI raised its holdings in Ferrari by 13.2% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company’s stock valued at $34,042,000 after acquiring an additional 9,274 shares during the period. Russell Investments Group Ltd. raised its holdings in Ferrari by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company’s stock valued at $54,847,000 after acquiring an additional 3,277 shares during the period. Finally, Sapient Capital LLC raised its holdings in Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after acquiring an additional 653 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.