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

Ferrari (NYSE:RACE) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Other analysts have also issued research reports about the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price target on shares of Ferrari in a research report on Monday. Bank of America lifted their price target on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Sanford C. Bernstein lifted their target price on shares of Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. UBS Group lifted their target price on shares of Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Evercore ISI lifted their target price on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $413.86.

Ferrari Price Performance

RACE traded down $4.41 during trading on Wednesday, reaching $420.33. The company’s stock had a trading volume of 237,100 shares, compared to its average volume of 305,629. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $419.13 and a two-hundred day simple moving average of $369.92. Ferrari has a 1 year low of $273.39 and a 1 year high of $442.80. The company has a market cap of $77.66 billion, a price-to-earnings ratio of 56.42, a PEG ratio of 3.14 and a beta of 0.97.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. As a group, analysts anticipate that Ferrari will post 8.31 EPS for the current year.

Hedge Funds Weigh In On Ferrari

Several institutional investors have recently modified their holdings of the business. CWM LLC grew its stake in shares of Ferrari by 33.7% during the third quarter. CWM LLC now owns 484 shares of the company’s stock worth $143,000 after purchasing an additional 122 shares in the last quarter. Simplicity Solutions LLC grew its stake in shares of Ferrari by 2.8% during the third quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock worth $417,000 after purchasing an additional 39 shares in the last quarter. Marshall Financial Group LLC grew its stake in shares of Ferrari by 2.3% during the third quarter. Marshall Financial Group LLC now owns 2,322 shares of the company’s stock worth $686,000 after purchasing an additional 52 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Ferrari by 3.9% during the third quarter. Ballentine Partners LLC now owns 1,167 shares of the company’s stock worth $345,000 after purchasing an additional 44 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Ferrari by 2.1% during the third quarter. Commonwealth Equity Services LLC now owns 3,246 shares of the company’s stock worth $960,000 after purchasing an additional 68 shares in the last quarter.

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.