Analysts Set Ferrari NV (NYSE:RACE) PT at $172.76

Ferrari NV (NYSE:RACE) has been given a consensus rating of “Hold” by the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $172.76.

Several research firms have recently weighed in on RACE. Credit Suisse Group reissued an “outperform” rating and set a $185.00 price target (up from $158.00) on shares of Ferrari in a report on Thursday, June 20th. ValuEngine lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America increased their price target on Ferrari from $150.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Morgan Stanley set a $175.00 price target on Ferrari and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Societe Generale upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th.

RACE stock traded up $1.83 during midday trading on Wednesday, hitting $149.37. The company’s stock had a trading volume of 6,220 shares, compared to its average volume of 427,777. The company has a market cap of $28.26 billion, a PE ratio of 37.14, a P/E/G ratio of 2.23 and a beta of 1.34. Ferrari has a 12 month low of $93.85 and a 12 month high of $170.54. The company has a current ratio of 3.77, a quick ratio of 3.20 and a debt-to-equity ratio of 1.48. The firm’s 50-day moving average is $154.43 and its 200-day moving average is $150.82.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Friday, August 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.06. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Ferrari had a return on equity of 50.99% and a net margin of 23.42%. Analysts expect that Ferrari will post 4.09 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Polianta Ltd bought a new position in shares of Ferrari in the 3rd quarter valued at about $1,032,000. Cerebellum GP LLC purchased a new stake in shares of Ferrari during the third quarter worth about $125,000. Redhawk Wealth Advisors Inc. grew its holdings in shares of Ferrari by 7.0% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,714 shares of the company’s stock worth $572,000 after buying an additional 244 shares in the last quarter. Prudential PLC grew its holdings in shares of Ferrari by 2.4% during the second quarter. Prudential PLC now owns 58,121 shares of the company’s stock worth $9,454,000 after buying an additional 1,341 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Ferrari by 22.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,918 shares of the company’s stock worth $473,000 after buying an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 36.38% of the company’s stock.

Ferrari Company Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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