Exane BNP Paribas Upgrades Ferrari (NYSE:RACE) to “Outperform”

Ferrari (NYSE:RACEGet Rating) was upgraded by research analysts at Exane BNP Paribas from a “neutral” rating to an “outperform” rating in a note issued to investors on Tuesday, The Fly reports. The firm presently has a €255.00 ($277.17) price objective on the stock.

RACE has been the subject of a number of other research reports. UBS Group increased their price objective on Ferrari from $260.00 to $263.00 and gave the stock a “buy” rating in a report on Monday, April 4th. Zacks Investment Research raised Ferrari from a “sell” rating to a “hold” rating in a research report on Tuesday, February 8th. StockNews.com started coverage on Ferrari in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. BNP Paribas raised Ferrari from a “neutral” rating to an “outperform” rating and set a $277.00 price target for the company in a report on Tuesday. Finally, Redburn Partners raised Ferrari from a “neutral” rating to a “buy” rating in a research report on Friday, March 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferrari has an average rating of “Buy” and an average price target of $258.09.

RACE stock opened at $220.76 on Tuesday. The firm has a market cap of $40.79 billion, a PE ratio of 41.50, a P/E/G ratio of 3.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.69 and a quick ratio of 3.10. The firm has a 50 day simple moving average of $214.30 and a 200 day simple moving average of $233.90. Ferrari has a 12 month low of $178.87 and a 12 month high of $278.78.

Ferrari (NYSE:RACEGet Rating) last announced its quarterly earnings results on Wednesday, February 2nd. The company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.31. Ferrari had a net margin of 19.47% and a return on equity of 40.53%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts expect that Ferrari will post 5.24 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WCM Investment Management LLC boosted its stake in shares of Ferrari by 1.9% in the 4th quarter. WCM Investment Management LLC now owns 2,430,951 shares of the company’s stock valued at $629,179,000 after buying an additional 44,907 shares during the period. Darsana Capital Partners LP lifted its holdings in Ferrari by 20.0% during the 3rd quarter. Darsana Capital Partners LP now owns 1,500,000 shares of the company’s stock worth $313,680,000 after buying an additional 250,000 shares during the last quarter. Morgan Stanley raised its position in shares of Ferrari by 19.8% during the 3rd quarter. Morgan Stanley now owns 1,494,669 shares of the company’s stock worth $312,566,000 after purchasing an additional 247,105 shares during the period. Norges Bank acquired a new position in shares of Ferrari during the 4th quarter valued at $374,511,000. Finally, AustralianSuper Pty Ltd acquired a new stake in shares of Ferrari in the fourth quarter worth $297,543,000. Institutional investors own 38.80% of the company’s stock.

Ferrari Company Profile (Get Rating)

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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