Ferrari N.V. (RACE) - What Are Brokerages Saying About This Stock?

Key Points

• Analyst sentiment is broadly positive: Of 23 analysts covering Ferrari, 14 rate it Buy and one Strong Buy, versus eight Hold ratings; the average 12-month price target is $456.71.
• Recent brokerage actions largely reaffirmed Buy ratings, while Morgan Stanley lowered its target slightly to $456 and kept an Overweight rating.
• Ferrari beat quarterly earnings expectations: EPS was $2.76 versus a $2.66 consensus estimate, and revenue rose 7.4% year over year to $2.15 billion.

Shares of Ferrari N.V. (NYSE:RACE - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-three analysts that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong 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 $456.71.

A number of brokerages have recently issued reports on RACE. Weiss Ratings upgraded shares of Ferrari from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, October 16th. Deutsche Bank reissued a "buy" rating on shares of Ferrari in a report on Tuesday, September 29th. Royal Bank Of Canada restated a "buy" rating on shares of Ferrari in a research report on Monday, September 21st. Berenberg Bank reaffirmed a "buy" rating on shares of Ferrari in a report on Monday, September 28th. Finally, Morgan Stanley dropped their target price on Ferrari from $460.00 to $456.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 30th.

Institutional Investors Weigh In On Ferrari

Institutional investors have recently made changes to their positions in the stock. Anchor Investment Management LLC boosted its position 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 buying an additional 65 shares in the last quarter. Gen Wealth Partners Inc purchased a new position in shares of Ferrari during the 3rd quarter worth approximately $31,000. Dunhill Financial LLC purchased a new position in shares of Ferrari during the 2nd quarter worth approximately $38,000. Ameritas Advisory Services LLC acquired a new position in shares of Ferrari during the 2nd quarter worth approximately $38,000. Finally, Grove Bank & Trust raised its position in shares of 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 during the last quarter.

Ferrari Stock Performance

Shares of RACE stock traded up $5.20 during midday trading on Friday, hitting $410.69. The company had a trading volume of 400,635 shares, compared to its average volume of 479,073. The company's 50 day simple moving average is $402.63 and its 200 day simple moving average is $372.95. Ferrari has a 52-week low of $312.51 and a 52-week high of $437.15. The stock has a market cap of $96.08 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 3.62 and a beta of 0.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.94 and a quick ratio of 3.81.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.66 by $0.10. Ferrari had a return on equity of 43.71% and a net margin of 22.55%. The business had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the prior year, the business earned $2.14 earnings per share. The company's quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts anticipate that Ferrari will post 11.17 earnings per share for the current fiscal year.

About Ferrari

Ferrari N.V. designs, manufactures and sells luxury sports cars under the Ferrari brand. Based in Maranello, Italy, the company offers a range of road cars, including series-production models, special-series vehicles and limited-edition cars, with customization options for clients. Ferrari also operates a motorsports business centered on its racing heritage. Scuderia Ferrari competes in Formula One and other racing series, while the company organizes customer racing programs and events. In addition to cars and racing, Ferrari develops and licenses branded merchandise and lifestyle products.

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