Ferrari (NYSE:RACE) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS Group has raised its price target for Ferrari (NYSE:RACE) from $540.00 to $570.00, indicating a potential upside of 16.21% from the current price and maintaining a "buy" rating.
• Despite the positive outlook from UBS, other analysts, including Wall Street Zen and Zacks Research, have downgraded Ferrari's stock to a "hold" rating recently.
• Ferrari's last earnings report showed an earnings per share of $2.70, exceeding analysts' expectations, with a revenue of $2.12 billion for the quarter, marking a 4.4% year-over-year increase.

Ferrari (NYSE:RACE - Get Free Report) had its price objective upped by UBS Group from $540.00 to $570.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price objective suggests a potential upside of 16.21% from the company's current price.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Zacks Research downgraded Ferrari from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $531.67.

Ferrari Trading Down 0.3%

Ferrari stock traded down $1.59 during midday trading on Wednesday, hitting $490.49. 30,238 shares of the stock were exchanged, compared to its average volume of 419,112. The stock has a market capitalization of $118.88 billion, a price-to-earnings ratio of 50.67, a PEG ratio of 5.44 and a beta of 1.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The stock's 50-day simple moving average is $478.88 and its 200 day simple moving average is $467.04. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $519.10.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RACE. GW&K Investment Management LLC grew its holdings in shares of Ferrari by 288.9% during the first quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock worth $30,000 after buying an additional 52 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Ferrari during the 2nd quarter worth approximately $30,000. Park Square Financial Group LLC purchased a new stake in Ferrari in the 4th quarter valued at approximately $32,000. Alpine Bank Wealth Management acquired a new position in Ferrari during the 1st quarter worth approximately $33,000. Finally, Brooklyn Investment Group boosted its stake in shares of Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after buying an additional 61 shares in 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.

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