Analysts Set Ferrari N.V. (NYSE:RACE) Price Target at $526.25

Shares of Ferrari N.V. (NYSE:RACE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seven analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $526.25.

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. UBS Group boosted their target price on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Finally, Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

Ferrari Stock Down 0.3%

RACE stock traded down $1.63 during mid-day trading on Wednesday, hitting $489.93. 68,104 shares of the company were exchanged, compared to its average volume of 412,379. The firm has a fifty day simple moving average of $477.28 and a 200 day simple moving average of $454.70. The company has a market capitalization of $118.75 billion, a PE ratio of 51.86, a price-to-earnings-growth ratio of 5.57 and a beta of 1.09. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.36 by $0.06. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.95 earnings per share. On average, research analysts forecast that Ferrari will post 9.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ferrari

Several hedge funds and other institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. raised its holdings in shares of Ferrari by 14.4% during the fourth quarter. QRG Capital Management Inc. now owns 651 shares of the company's stock valued at $277,000 after buying an additional 82 shares during the last quarter. SVB Wealth LLC bought a new stake in Ferrari during the 4th quarter valued at $258,000. Metis Global Partners LLC raised its stake in Ferrari by 5.3% during the 4th quarter. Metis Global Partners LLC now owns 3,588 shares of the company's stock valued at $1,533,000 after acquiring an additional 181 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Ferrari by 118.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 430 shares of the company's stock worth $184,000 after acquiring an additional 233 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Ferrari by 15.5% in the fourth quarter. Jones Financial Companies Lllp now owns 5,337 shares of the company's stock worth $2,267,000 after purchasing an additional 718 shares in the last quarter.

About Ferrari

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.