Ferrari (NYSE:RACE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Ferrari (NYSE:RACEGet Free Report) has earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $325.89.

A number of equities research analysts have issued reports on RACE shares. Morgan Stanley boosted their target price on shares of Ferrari from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. BNP Paribas cut shares of Ferrari from an “outperform” rating to a “neutral” rating in a report on Wednesday, December 13th. StockNews.com started coverage on shares of Ferrari in a report on Thursday, October 5th. They set a “buy” rating on the stock. Evercore ISI began coverage on shares of Ferrari in a report on Tuesday, November 7th. They set an “outperform” rating and a $375.00 target price on the stock. Finally, Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Monday, November 6th.

View Our Latest Analysis on Ferrari

Institutional Investors Weigh In On Ferrari

Large investors have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. purchased a new stake in Ferrari during the fourth quarter valued at about $27,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Ferrari during the second quarter valued at about $33,000. Householder Group Estate & Retirement Specialist LLC grew its stake in shares of Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after buying an additional 80 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after buying an additional 30 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Ferrari during the fourth quarter valued at about $38,000.

Ferrari Trading Up 1.3 %

Ferrari stock opened at $349.58 on Wednesday. Ferrari has a 12 month low of $246.51 and a 12 month high of $372.42. The company has a current ratio of 3.98, a quick ratio of 3.08 and a debt-to-equity ratio of 0.89. The business’s 50 day simple moving average is $349.55 and its 200 day simple moving average is $325.68.

Ferrari (NYSE:RACEGet Free Report) last issued its earnings results on Thursday, November 2nd. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.39. Ferrari had a net margin of 20.42% and a return on equity of 42.92%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.56 billion. As a group, research analysts expect that Ferrari will post 7.14 EPS for the current fiscal year.

Ferrari Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Ferrari (NYSE:RACE)

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