Ferrari (NYSE:RACE) PT Raised to $310.00

Ferrari (NYSE:RACE – Get Rating) had its price target boosted by investment analysts at Morgan Stanley from $280.00 to $310.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 14.96% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. UBS Group lifted their price target on shares of Ferrari from $274.00 to $330.00 in a research note on Friday, February 3rd. Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating and set a $230.60 price target for the company in a research note on Monday, January 9th. Royal Bank of Canada boosted their price target on Ferrari from €261.00 ($277.66) to €265.00 ($281.91) in a research report on Monday, December 12th. Credit Suisse Group increased their price objective on Ferrari from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, January 20th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and an average target price of $253.06.

Ferrari Trading Up 0.4 %

Ferrari stock opened at $269.66 on Tuesday. The company has a 50 day moving average of $249.74 and a 200-day moving average of $218.95. The company has a current ratio of 4.11, a quick ratio of 3.41 and a debt-to-equity ratio of 1.08. Ferrari has a twelve month low of $167.45 and a twelve month high of $274.08.

Ferrari (NYSE:RACE – Get Rating) last released its earnings results on Thursday, February 2nd. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.01. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Ferrari had a return on equity of 38.78% and a net margin of 18.44%. Equities analysts predict that Ferrari will post 6.04 EPS for the current year.

Hedge Funds Weigh In On Ferrari

Institutional investors and hedge funds have recently made changes to their positions in the company. Dakota Wealth Management boosted its holdings in Ferrari by 1.2% in the 4th quarter. Dakota Wealth Management now owns 3,234 shares of the company’s stock valued at $691,000 after purchasing an additional 38 shares during the period. Zions Bancorporation N.A. boosted its stake in shares of Ferrari by 27.2% in the fourth quarter. Zions Bancorporation N.A. now owns 192 shares of the company’s stock valued at $41,000 after buying an additional 41 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Ferrari by 47.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 149 shares of the company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Highland Capital Management LLC increased its stake in Ferrari by 1.0% during the 3rd quarter. Highland Capital Management LLC now owns 5,300 shares of the company’s stock worth $980,000 after acquiring an additional 50 shares during the period. Finally, Angeles Wealth Management LLC raised its holdings in Ferrari by 3.1% in the 4th quarter. Angeles Wealth Management LLC now owns 1,755 shares of the company’s stock valued at $376,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 32.21% of the company’s stock.

Ferrari Company Profile

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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.