Ferrari N.V. (NYSE:RACE) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Ferrari N.V. (NYSE:RACE) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $526.25.

Several research firms recently commented on RACE. Wall Street Zen downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. UBS Group increased their price objective on Ferrari from $520.00 to $560.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th.

Ferrari Price Performance

Shares of RACE opened at $517.30 on Friday. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average is $485.42 and its 200 day moving average is $463.28. The stock has a market cap of $125.38 billion, a P/E ratio of 54.74, a P/E/G ratio of 5.67 and a beta of 1.09. Ferrari has a 12-month low of $391.54 and a 12-month high of $519.10.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the business earned $1.95 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Ferrari will post 9.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RACE. GW&K Investment Management LLC boosted its holdings in Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. GAMMA Investing LLC increased its position in Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after acquiring an additional 21 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in Ferrari during the fourth quarter valued at $32,000. Alpine Bank Wealth Management bought a new position in Ferrari in the 1st quarter worth $33,000. Finally, Brooklyn Investment Group raised its holdings in Ferrari by 381.3% in the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after purchasing an additional 61 shares during the period.

Ferrari Company Profile

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.