Ferrari (NYSE:RACE) had its price objective raised by equities research analysts at Morgan Stanley from $105.00 to $110.00 in a report issued on Tuesday. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price target indicates a potential downside of 16.23% from the company’s previous close.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Ferrari from a “sell” rating to a “buy” rating and set a $154.00 target price for the company in a research report on Tuesday, May 8th. UBS reiterated a “buy” rating and set a $160.00 target price (up from $129.00) on shares of Ferrari in a research report on Monday, February 26th. Finally, Credit Suisse Group lifted their target price on Ferrari from $150.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday, May 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $130.75.
Shares of RACE opened at $131.31 on Tuesday. Ferrari has a 52-week low of $84.33 and a 52-week high of $141.56. The firm has a market capitalization of $25.33 billion, a P/E ratio of 41.16, a P/E/G ratio of 2.17 and a beta of 1.39. The company has a quick ratio of 2.56, a current ratio of 3.17 and a debt-to-equity ratio of 2.03.
Ferrari (NYSE:RACE) last released its earnings results on Thursday, May 3rd. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.10). Ferrari had a return on equity of 79.32% and a net margin of 16.44%. The business had revenue of $831.00 million for the quarter, compared to the consensus estimate of $835.47 million. During the same quarter last year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. sell-side analysts anticipate that Ferrari will post 3.57 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in RACE. Financial Gravity Companies Inc. purchased a new position in shares of Ferrari during the fourth quarter valued at $104,000. Shine Investment Advisory Services Inc. purchased a new position in shares of Ferrari during the fourth quarter valued at $116,000. Cerebellum GP LLC purchased a new position in shares of Ferrari during the fourth quarter valued at $125,000. Financial Gravity Wealth Inc. purchased a new position in shares of Ferrari during the first quarter valued at $131,000. Finally, Cigna Investments Inc. New purchased a new position in shares of Ferrari during the first quarter valued at $200,000. Hedge funds and other institutional investors own 32.13% of the company’s stock.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
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