Ferrari (NYSE:RACE) Reaches New 1-Year High - Time to Buy?

Ferrari N.V. (NYSE:RACE - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $510.59 and last traded at $508.02, with a volume of 214763 shares changing hands. The stock had previously closed at $506.19.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. UBS Group increased their target price on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lowered their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Stock Performance

The company has a market capitalization of $122.64 billion, a P/E ratio of 53.54, a PEG ratio of 5.54 and a beta of 1.09. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.04. The company has a fifty day moving average price of $483.60 and a two-hundred day moving average price of $460.56.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The company 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%. The firm's quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 earnings per share. Equities analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ferrari

Several institutional investors have recently bought and sold shares of RACE. GW&K Investment Management LLC lifted its position in shares of Ferrari by 288.9% during the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after buying an additional 52 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Ferrari during the 4th quarter valued at $32,000. Alpine Bank Wealth Management purchased a new position in shares of Ferrari during the 1st quarter valued at $33,000. Brooklyn Investment Group lifted its position in shares of Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after buying an additional 61 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company's stock valued at $35,000 after buying an additional 21 shares during the last quarter.

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.