Ferrari (NYSE:RACE) Price Target Increased to $465.00 by Analysts at Evercore ISI

Ferrari (NYSE:RACE) had its target price boosted by Evercore ISI from $430.00 to $465.00 in a research note issued to investors on Monday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

RACE has been the subject of several other research reports. Sanford C. Bernstein upped their price target on Ferrari from $448.00 to $512.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Barclays cut shares of Ferrari from an overweight rating to an equal weight rating in a research note on Thursday, April 4th. Bank of America boosted their price target on shares of Ferrari from $458.00 to $512.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Citigroup cut Ferrari from a neutral rating to a sell rating in a report on Monday, March 4th. Finally, StockNews.com upgraded shares of Ferrari from a hold rating to a buy rating in a research note on Friday, March 22nd. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $413.86.

Ferrari Stock Performance

NYSE RACE opened at $410.27 on Monday. The company has a fifty day moving average of $417.43 and a two-hundred day moving average of $368.72. Ferrari has a 1 year low of $273.39 and a 1 year high of $442.80. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91.

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

Ferrari Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $2.443 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a dividend yield of 0.62%.

Institutional Trading of Ferrari

A number of institutional investors have recently modified their holdings of the company. Register Financial Advisors LLC acquired a new stake in shares of Ferrari in the first quarter worth $33,000. Jamison Private Wealth Management Inc. purchased a new stake in shares of Ferrari during the fourth quarter valued at approximately $27,000. Householder Group Estate & Retirement Specialist LLC lifted its position 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 worth $35,000 after purchasing an additional 80 shares in the last quarter. Blue Trust Inc. grew its holdings in Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Ferrari during the 4th quarter worth $43,000.

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.