Ferrari (NYSE:RACE) Rating Increased to Strong-Buy at BNP Paribas

BNP Paribas upgraded shares of Ferrari (NYSE:RACE) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Zacks Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. JPMorgan Chase & Co. reduced their price target on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating for the company in a report on Wednesday, November 12th. The Goldman Sachs Group upgraded shares of Ferrari to a “strong-buy” rating in a research report on Monday, November 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ferrari in a research note on Monday. Four research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $489.47.

Ferrari Stock Down 0.3%

RACE stock opened at $366.91 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78. The company has a 50-day moving average of $400.24 and a two-hundred day moving average of $451.45. The stock has a market capitalization of $88.93 billion, a price-to-earnings ratio of 37.06, a price-to-earnings-growth ratio of 4.07 and a beta of 1.01. Ferrari has a 52-week low of $356.93 and a 52-week high of $519.10.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.15. The business 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 research analysts anticipate that Ferrari will post 9.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new stake in Ferrari during the third quarter valued at approximately $27,000. Westside Investment Management Inc. boosted its stake in Ferrari by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after buying an additional 28 shares in the last quarter. Root Financial Partners LLC bought a new stake in Ferrari in the third quarter valued at $28,000. Newbridge Financial Services Group Inc. acquired a new position in Ferrari during the second quarter worth $30,000. Finally, Brooklyn Investment Group lifted its holdings in shares of Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after acquiring an additional 61 shares during the period.

About Ferrari

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.