Ferrari N.V. (NYSE:RACE) Receives Consensus Recommendation of “Buy” from Brokerages

Ferrari N.V. (NYSE:RACE) has been assigned an average recommendation of “Buy” from the seventeen analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and four have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $489.4670.

Several equities research analysts have recently commented on RACE shares. Evercore ISI reduced their target price on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Berenberg Bank set a $570.00 price target on shares of Ferrari in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ferrari in a research note on Monday. Oddo Bhf cut shares of Ferrari to a “neutral” rating in a research note on Wednesday, December 10th. Finally, The Goldman Sachs Group raised Ferrari to a “strong-buy” rating in a report on Monday, November 24th.

Ferrari Stock Down 0.9%

Shares of RACE opened at $372.27 on Wednesday. The company has a quick ratio of 3.78, a current ratio of 4.90 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $389.83 and a two-hundred day moving average price of $442.21. The stock has a market cap of $90.23 billion, a price-to-earnings ratio of 37.60, a P/E/G ratio of 4.13 and a beta of 1.01. Ferrari has a 12 month low of $356.93 and a 12 month high of $519.10.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Equities analysts predict that Ferrari will post 9.22 EPS for the current fiscal year.

Institutional Trading of Ferrari

A number of hedge funds and other institutional investors have recently made changes to their positions in RACE. Triumph Capital Management acquired a new position in Ferrari during the 3rd quarter worth about $53,000. Hudson Bay Capital Management LP increased its position in Ferrari by 100.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 2,571 shares of the company’s stock valued at $1,246,000 after acquiring an additional 1,288 shares in the last quarter. Allworth Financial LP raised its stake in shares of Ferrari by 11.8% in the third quarter. Allworth Financial LP now owns 369 shares of the company’s stock worth $179,000 after acquiring an additional 39 shares during the last quarter. Groupama Asset Managment lifted its position in shares of Ferrari by 5.7% during the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock worth $8,244,189,000 after purchasing an additional 916,821 shares in the last quarter. Finally, Liontrust Investment Partners LLP acquired a new position in shares of Ferrari during the third quarter worth approximately $11,134,000.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.