Ferrari (NYSE:RACE) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Ferrari (NYSE:RACE - Get Free Report) have received an average rating of "Moderate Buy" from the seven research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $526.25.

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

Ferrari Stock Performance

Shares of Ferrari stock traded up $6.91 during trading on Friday, reaching $486.03. The company's stock had a trading volume of 554,269 shares, compared to its average volume of 336,933. The company has a 50-day moving average price of $461.37 and a two-hundred day moving average price of $451.21. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The firm has a market cap of $117.80 billion, a PE ratio of 53.12, a P/E/G ratio of 4.43 and a beta of 1.10. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

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, beating analysts' consensus estimates of $2.36 by $0.06. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business posted $1.95 earnings per share. Ferrari's quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts forecast that Ferrari will post 9.22 EPS for the current year.

Hedge Funds Weigh In On Ferrari

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Ferrari in the fourth quarter valued at about $697,226,000. Goldman Sachs Group Inc. increased its holdings in Ferrari by 52.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock valued at $974,332,000 after buying an additional 781,587 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after acquiring an additional 594,547 shares during the period. Barclays PLC lifted its position in shares of Ferrari by 198.0% during the 4th quarter. Barclays PLC now owns 853,971 shares of the company's stock valued at $362,802,000 after acquiring an additional 567,407 shares during the period. Finally, Groupe la Francaise purchased a new stake in shares of Ferrari during the 1st quarter worth approximately $238,818,000.

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.