Ferrari (NYSE:RACE) Receives Average Rating of “Moderate Buy” from Analysts

Ferrari (NYSE:RACE) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $507.14.

A number of research analysts have recently weighed in on the company. Evercore ISI lifted their price target on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group boosted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $385.00 to $525.00 in a report on Friday, October 11th.

Ferrari Price Performance

NYSE RACE opened at $428.23 on Wednesday. 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 $330.15 and a 1 year high of $498.23. The company has a market cap of $79.12 billion, a PE ratio of 49.74, a PEG ratio of 4.26 and a beta of 0.95. The stock’s 50-day moving average price is $439.54 and its two-hundred day moving average price is $447.54.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company posted $1.98 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that Ferrari will post 8.58 EPS for the current year.

Institutional Trading of Ferrari

Large investors have recently modified their holdings of the company. Jamison Private Wealth Management Inc. grew its position in Ferrari by 27.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock worth $48,000 after buying an additional 22 shares in the last quarter. Elite Wealth Management Inc. lifted its position in shares of Ferrari by 1.0% in the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after acquiring an additional 25 shares during the period. Addison Advisors LLC lifted its position in shares of Ferrari by 13.6% in the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $102,000 after acquiring an additional 26 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Ferrari by 5.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 588 shares of the company’s stock worth $240,000 after purchasing an additional 28 shares in the last quarter. Finally, Marshall Financial Group LLC increased its position in shares of Ferrari by 1.1% during the third quarter. Marshall Financial Group LLC now owns 2,732 shares of the company’s stock valued at $1,284,000 after purchasing an additional 30 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.