Ferrari (NYSE:RACE) Stock Rating Upgraded by StockNews.com

Ferrari (NYSE:RACE) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

RACE has been the subject of several other research reports. Evercore ISI raised their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research report on Thursday. They issued a “hold” rating on the stock. Finally, UBS Group increased their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Trading Down 3.3 %

Shares of NYSE:RACE opened at $446.27 on Thursday. The company has a 50 day moving average of $435.35 and a 200-day moving average of $449.25. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a market cap of $108.78 billion, a P/E ratio of 51.83, a P/E/G ratio of 3.72 and a beta of 0.95. Ferrari has a twelve month low of $375.31 and a twelve month high of $498.23.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business posted $1.98 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that Ferrari will post 8.59 earnings per share for the current fiscal year.

Institutional Trading of Ferrari

A number of hedge funds have recently modified their holdings of the business. Jamison Private Wealth Management Inc. raised its position in Ferrari by 27.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock valued at $48,000 after buying an additional 22 shares during the period. Elite Wealth Management Inc. lifted its position in shares of Ferrari by 1.0% in the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after purchasing an additional 25 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of Ferrari by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after purchasing an additional 25 shares during the period. Addison Advisors LLC grew its position in Ferrari by 13.6% during the third quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after purchasing an additional 26 shares in the last quarter. Finally, Marshall Financial Group LLC increased its stake in Ferrari by 1.1% in the 3rd quarter. Marshall Financial Group LLC now owns 2,732 shares of the company’s stock valued at $1,284,000 after buying an additional 30 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.