Free Trial

Ferrari (NYSE:RACE) Sets New 1-Year High - Here's Why

Ferrari logo with Auto/Tires/Trucks background

Ferrari N.V. (NYSE:RACE - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $517.57 and last traded at $517.13, with a volume of 390394 shares. The stock had previously closed at $500.81.

Wall Street Analyst Weigh In

A number of research firms have commented on RACE. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research report 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 report on Wednesday, May 7th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $526.25.

Get Our Latest Analysis on Ferrari

Ferrari Trading Down 0.0%

The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09. The business has a fifty day simple moving average of $484.64 and a 200 day simple moving average of $461.84. The company has a market cap of $125.40 billion, a P/E ratio of 54.75, a P/E/G ratio of 5.49 and a beta of 1.09.

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

Institutional Trading of Ferrari

Several large investors have recently added to or reduced their stakes in the business. Sound View Wealth Advisors Group LLC increased its holdings in shares of Ferrari by 1.0% in the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company's stock valued at $940,000 after buying an additional 21 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company's stock worth $35,000 after acquiring an additional 21 shares during the last quarter. Garde Capital Inc. increased its stake in shares of Ferrari by 5.0% in the fourth quarter. Garde Capital Inc. now owns 525 shares of the company's stock worth $223,000 after acquiring an additional 25 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in Ferrari by 3.9% in the first quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock worth $299,000 after purchasing an additional 26 shares in the last quarter. Finally, Aviso Financial Inc. boosted its holdings in Ferrari by 1.1% in the first quarter. Aviso Financial Inc. now owns 2,835 shares of the company's stock worth $1,213,000 after purchasing an additional 30 shares in the last quarter.

About Ferrari

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Ferrari Right Now?

Before you consider Ferrari, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ferrari wasn't on the list.

While Ferrari currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Options Trading Made Easy - Download Now Cover

Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 “Boring” Mega Cap Stocks to Turn Into Pure Profit
Joby vs. Archer: The $10 Billion eVTOL Battle
3 Small-Cap Biotech Stocks With Catalysts Too Big to Ignore

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines