Analysts Set Formula One Group (NASDAQ:FWONK) Price Target at $95.33

Shares of Formula One Group (NASDAQ:FWONK) have earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $95.33.

A number of analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Formula One Group from $83.00 to $80.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $102.00 price target on shares of Formula One Group in a research report on Friday, March 7th. StockNews.com raised Formula One Group to a “sell” rating in a report on Tuesday, April 1st. Seaport Res Ptn upgraded shares of Formula One Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 16th. Finally, Morgan Stanley dropped their price target on Formula One Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, February 28th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FWONK. Janney Montgomery Scott LLC boosted its holdings in Formula One Group by 1.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company’s stock valued at $2,560,000 after purchasing an additional 287 shares during the period. Versant Capital Management Inc lifted its stake in shares of Formula One Group by 1,378.8% in the 1st quarter. Versant Capital Management Inc now owns 2,159 shares of the company’s stock valued at $194,000 after acquiring an additional 2,013 shares during the last quarter. Greenwood Gearhart Inc. boosted its stake in shares of Formula One Group by 2.7% during the fourth quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company’s stock valued at $16,764,000 after purchasing an additional 4,761 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Formula One Group by 1.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company’s stock worth $37,529,000 after acquiring an additional 4,897 shares during the last quarter. Finally, Allstate Corp purchased a new position in Formula One Group during the 4th quarter valued at about $571,000. 92.26% of the stock is owned by institutional investors.

Formula One Group Price Performance

Formula One Group stock opened at $77.19 on Wednesday. The company’s 50-day moving average is $90.39 and its 200-day moving average is $88.12. The firm has a market capitalization of $19.24 billion, a PE ratio of 67.12 and a beta of 0.32. Formula One Group has a fifty-two week low of $66.37 and a fifty-two week high of $102.33.

Formula One Group (NASDAQ:FWONK) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($1.45). The company had revenue of $20.71 billion during the quarter, compared to analyst estimates of $1.37 billion. As a group, analysts expect that Formula One Group will post 1.36 EPS for the current year.

Formula One Group Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.