Ferrari (NYSE:RACE) Given Average Rating of “Moderate Buy” by Analysts

Shares of Ferrari (NYSE:RACEGet Rating) have been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $228.89.

Several analysts have recently commented on the company. UBS Group raised their target price on Ferrari from $255.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. HSBC upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, October 27th. Finally, Morgan Stanley cut their price target on Ferrari from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd.

Ferrari Stock Performance

Shares of RACE opened at $217.59 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.74. The stock has a 50-day moving average of $196.18 and a 200-day moving average of $195.58. The company has a market cap of $40.20 billion, a PE ratio of 39.78, a P/E/G ratio of 3.55 and a beta of 0.94. Ferrari has a one year low of $167.45 and a one year high of $271.95.

Ferrari (NYSE:RACEGet Rating) last issued its earnings results on Wednesday, November 2nd. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.14 by $0.10. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.15 billion. Ferrari had a return on equity of 40.02% and a net margin of 19.00%. On average, equities research analysts predict that Ferrari will post 5.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Ferrari

Several hedge funds have recently modified their holdings of the company. Advisors Capital Management LLC bought a new position in shares of Ferrari during the 3rd quarter worth approximately $255,000. Captrust Financial Advisors lifted its position in shares of Ferrari by 7.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,241 shares of the company’s stock worth $1,342,000 after buying an additional 513 shares in the last quarter. Balyasny Asset Management LLC lifted its position in shares of Ferrari by 914.5% during the 3rd quarter. Balyasny Asset Management LLC now owns 187,515 shares of the company’s stock worth $34,690,000 after buying an additional 169,031 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Ferrari in the 3rd quarter worth approximately $16,787,000. Finally, Neuberger Berman Group LLC raised its holdings in shares of Ferrari by 17.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 14,000 shares of the company’s stock worth $2,610,000 after purchasing an additional 2,108 shares during the period. Institutional investors own 32.31% of the company’s stock.

Ferrari Company Profile

(Get Rating)

Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The firm’s models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari, and the FF four-wheel drive. It participates in car racing such as Formula One.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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