Ferrari N.V. (NYSE:RACE) Receives $501.14 Consensus PT from Brokerages

Ferrari N.V. (NYSE:RACE) has been given an average recommendation of “Buy” by the fourteen research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $504.7143.

Several brokerages have recently weighed in on RACE. Cfra Research downgraded Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. UBS Group boosted their price target on shares of Ferrari from $529.00 to $554.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Hsbc Global Res upgraded shares of Ferrari from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Finally, HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 target price for the company in a research note on Thursday, October 2nd.

Ferrari Trading Down 0.3%

RACE stock opened at $405.60 on Tuesday. Ferrari has a 52-week low of $372.31 and a 52-week high of $519.10. The company has a quick ratio of 3.94, a current ratio of 4.90 and a debt-to-equity ratio of 0.76. The firm has a market cap of $98.31 billion, a P/E ratio of 40.97, a PEG ratio of 4.34 and a beta of 1.07. The company’s 50-day simple moving average is $447.52 and its 200-day simple moving average is $466.30.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ferrari had a return on equity of 44.20% and a net margin of 22.65%. Ferrari has set its FY 2025 guidance at 10.290- EPS. As a group, equities analysts forecast that Ferrari will post 9.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Ferrari

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in shares of Ferrari during the third quarter worth approximately $27,000. Westside Investment Management Inc. boosted its stake in Ferrari by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after purchasing an additional 28 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Ferrari during the third quarter worth $28,000. GW&K Investment Management LLC raised its position in shares of Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after buying an additional 52 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Ferrari in the second quarter valued at about $30,000.

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.