Ferrari N.V. (NYSE:RACE) Stock Has Consensus Price Target of $456.71 According to Analysts

Key Points

• Ferrari has a “Moderate Buy” consensus rating from 23 analysts, with 14 buys, eight holds and one strong buy. The average 12-month price target is $456.71.
• Shares opened at $394.37, compared with a 52-week range of $312.51 to $437.15. Ferrari has a market capitalization of $92.26 billion and trades at a P/E ratio of 36.61.
• Ferrari exceeded quarterly expectations, reporting $2.99 in earnings per share versus the $2.83 consensus and $2.21 billion in revenue versus $2.14 billion expected. Revenue increased 8.4% year over year.

Shares of Ferrari N.V. (NYSE:RACE - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-three analysts that are covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $456.71.

Several research firms have recently weighed in on RACE. Berenberg Bank reiterated a "buy" rating on shares of Ferrari in a research report on Monday, September 28th. Banca Akros downgraded shares of Ferrari to a "neutral" rating in a research note on Monday, August 24th. Royal Bank Of Canada restated a "buy" rating on shares of Ferrari in a report on Monday, September 21st. Jefferies Financial Group restated a "buy" rating on shares of Ferrari in a report on Monday, August 17th. Finally, Wolfe Research initiated coverage on shares of Ferrari in a research report on Tuesday, July 7th. They set an "outperform" rating on the stock.

Ferrari Price Performance

Ferrari stock opened at $394.37 on Tuesday. The stock's 50 day moving average is $406.91 and its 200 day moving average is $376.33. Ferrari has a one year low of $312.51 and a one year high of $437.15. The firm has a market cap of $92.26 billion, a P/E ratio of 36.61, a P/E/G ratio of 3.42 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.83 by $0.16. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm posted $2.38 EPS. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts expect that Ferrari will post 11.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Anchor Investment Management LLC raised its holdings in shares of Ferrari by 1,625.0% in the 2nd quarter. Anchor Investment Management LLC now owns 69 shares of the company's stock worth $26,000 after acquiring an additional 65 shares during the last quarter. Bellevue Asset Management LLC acquired a new position in Ferrari during the 1st quarter valued at about $34,000. Dunhill Financial LLC acquired a new position in Ferrari during the 2nd quarter valued at about $38,000. Ameritas Advisory Services LLC acquired a new position in Ferrari during the 2nd quarter valued at about $38,000. Finally, Grove Bank & Trust increased its holdings in Ferrari by 51.5% during the 3rd quarter. Grove Bank & Trust now owns 100 shares of the company's stock worth $39,000 after purchasing an additional 34 shares in the last quarter.

About Ferrari

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its vehicle portfolio includes grand touring models, mid- and rear-engine sports cars, limited-edition special series and high-performance supercars. Ferrari also offers extensive personalization options, allowing customers to tailor vehicle specifications, materials and finishes.

The company traces its origins to 1939, when Enzo Ferrari established Auto Avio Costruzioni, and it produced its first Ferrari-badged car in 1947.

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