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

Key Points

• Ferrari N.V. has received an average rating of "Moderate Buy" from seven brokerages, with one hold recommendation and six buy recommendations. The average target price among analysts is $526.25.
• The company's latest earnings report showed a profit of $2.42 per share, exceeding analysts' expectations of $2.36, and marking a 13% increase in revenue year-over-year.
• Institutional investors have increased their stakes in Ferrari, with notable boosts such as GW&K Investment Management raising its holdings by 288.9% in the first quarter.

Shares of Ferrari N.V. (NYSE:RACE - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $526.25.

A number of research analysts recently issued reports on RACE shares. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. UBS Group lifted their price target on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th.

Hedge Funds Weigh In On Ferrari

Institutional investors and hedge funds have recently bought and sold shares of the business. Bridgewater Advisors Inc. purchased a new position in Ferrari during the 1st quarter valued at about $492,000. Zurich Insurance Group Ltd FI grew its stake in Ferrari by 13.2% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock valued at $34,042,000 after acquiring an additional 9,274 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Ferrari by 2.6% during the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock valued at $54,847,000 after acquiring an additional 3,277 shares in the last quarter. National Bank of Canada FI grew its stake in Ferrari by 144.3% during the 4th quarter. National Bank of Canada FI now owns 5,638 shares of the company's stock valued at $2,400,000 after acquiring an additional 3,330 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Ferrari by 13.8% during the 4th quarter. Franklin Resources Inc. now owns 25,093 shares of the company's stock valued at $10,689,000 after acquiring an additional 3,038 shares in the last quarter.

Ferrari Stock Performance

Shares of NYSE RACE traded down $5.96 during midday trading on Friday, reaching $499.46. 298,238 shares of the company traded hands, compared to its average volume of 276,234. The stock has a 50-day moving average price of $485.84 and a 200 day moving average price of $464.57. The company has a market cap of $121.06 billion, a price-to-earnings ratio of 52.85, a PEG ratio of 5.54 and a beta of 1.09. Ferrari has a 52 week low of $391.54 and a 52 week high of $519.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.04.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. Ferrari's revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.95 earnings per share. Sell-side analysts anticipate that Ferrari will post 9.22 earnings per share for the current fiscal year.

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.