Sanford C. Bernstein Boosts Ferrari (NYSE:RACE) Price Target to $512.00

Ferrari (NYSE:RACE) had its price target boosted by analysts at Sanford C. Bernstein from $448.00 to $512.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective suggests a potential upside of 25.29% from the stock’s current price.

RACE has been the topic of several other research reports. Bank of America lifted their target price on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. UBS Group lifted their target price on shares of Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Citigroup lowered shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $393.86.

Ferrari Trading Down 1.0 %

Shares of RACE opened at $408.65 on Thursday. The company’s fifty day moving average is $416.97 and its two-hundred day moving average is $366.96. Ferrari has a fifty-two week low of $272.70 and a fifty-two week high of $442.80. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. Equities analysts predict that Ferrari will post 8.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Ferrari

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares during the period. Merlin Capital Inc raised its stake in Ferrari by 1.3% during the third quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock worth $738,000 after acquiring an additional 32 shares during the period. Hexagon Capital Partners LLC raised its stake in Ferrari by 16.0% during the first quarter. Hexagon Capital Partners LLC now owns 239 shares of the company’s stock worth $104,000 after acquiring an additional 33 shares during the period. Kolinsky Wealth Management LLC raised its stake in Ferrari by 2.2% during the fourth quarter. Kolinsky Wealth Management LLC now owns 1,704 shares of the company’s stock worth $577,000 after acquiring an additional 36 shares during the period. Finally, Allworth Financial LP raised its stake in Ferrari by 17.0% during the fourth quarter. Allworth Financial LP now owns 255 shares of the company’s stock worth $86,000 after acquiring an additional 37 shares during the period.

About Ferrari

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.