Ferrari (NYSE:RACE) Receives Buy (B) Rating from Weiss Ratings

Ferrari (NYSE:RACE - Get Free Report)'s stock had its "buy (b)" rating restated by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also issued reports on the company. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Berenberg Bank set a $570.00 price target on Ferrari in a research report on Friday, October 3rd. HSBC upgraded Ferrari from a "hold" rating to a "buy" rating and set a $470.00 price objective on the stock in a research report on Thursday, October 2nd. Citigroup reiterated a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Finally, Zacks Research lowered Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $528.80.

Ferrari Price Performance

RACE opened at $478.86 on Wednesday. The stock's 50 day simple moving average is $472.15 and its 200 day simple moving average is $470.13. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. Ferrari has a 1 year low of $391.54 and a 1 year high of $519.10. The firm has a market cap of $116.07 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 3.95 and a beta of 1.08.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the company earned $2.29 EPS. Ferrari's revenue for the quarter was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, analysts predict that Ferrari will post 9.22 earnings per share for the current year.

Institutional Investors Weigh In On Ferrari

Several hedge funds have recently made changes to their positions in the company. Groupama Asset Managment boosted its position in shares of Ferrari by 24,598.5% during the second quarter. Groupama Asset Managment now owns 16,073,800 shares of the company's stock valued at $7,888,057,000 after purchasing an additional 16,008,720 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Ferrari by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock valued at $2,165,683,000 after purchasing an additional 377,929 shares in the last quarter. Bank of Italy boosted its position in shares of Ferrari by 2.9% during the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock valued at $1,021,078,000 after purchasing an additional 67,651 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock valued at $974,332,000 after purchasing an additional 781,587 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Ferrari by 5.6% during the second quarter. Alliancebernstein L.P. now owns 1,866,558 shares of the company's stock valued at $915,995,000 after purchasing an additional 99,221 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.

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