Ferrari N.V. (NYSE:RACE) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Ferrari, with 10 buy, 3 strong-buy, and 6 hold ratings among 19 firms. The average 12-month price target is $477.15.
• Recent analyst actions were largely positive: Bernstein raised its target to $460, Morgan Stanley reaffirmed its $442 target and overweight rating, while UBS trimmed its target to $490 but retained a buy rating; Citigroup kept a neutral rating.
• Ferrari shares opened at $406.40, with a $95.08 billion market capitalization and a 52-week range of $312.51 to $504.49. Several institutional investors, including AQR Capital Management, recently increased their holdings.

Shares of Ferrari N.V. (NYSE:RACE - Get Free Report) have received an average recommendation of "Moderate Buy" from the nineteen research firms that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $477.1518.

RACE has been the topic of several recent analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $442.00 target price on shares of Ferrari in a research note on Friday, July 31st. Sanford C. Bernstein lifted their price target on shares of Ferrari from $402.00 to $460.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Wolfe Research initiated coverage on shares of Ferrari in a report on Tuesday, July 7th. They set an "outperform" rating on the stock. Citigroup reiterated a "neutral" rating on shares of Ferrari in a report on Monday. Finally, UBS Group reduced their price objective on shares of Ferrari from $497.00 to $490.00 and set a "buy" rating on the stock in a research report on Friday, July 31st.

Ferrari Stock Performance

NYSE:RACE opened at $406.40 on Thursday. The firm has a market capitalization of $95.08 billion, a PE ratio of 37.73, a PEG ratio of 3.47 and a beta of 0.91. The stock's fifty day moving average is $369.10 and its 200 day moving average is $353.87. Ferrari has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its position in Ferrari by 78.9% in the 1st quarter. AQR Capital Management LLC now owns 3,568 shares of the company's stock valued at $1,527,000 after acquiring an additional 1,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ferrari by 31.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company's stock worth $82,000 after purchasing an additional 46 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Ferrari during the first quarter worth $1,519,000. Sivia Capital Partners LLC lifted its position in shares of Ferrari by 67.5% during the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company's stock worth $448,000 after purchasing an additional 368 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Ferrari by 7.5% during the second quarter. Rhumbline Advisers now owns 1,370 shares of the company's stock valued at $672,000 after purchasing an additional 96 shares during the period.

Ferrari Company Profile

Ferrari N.V. NYSE: RACE is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company's core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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