Ferrari N.V. (NYSE:RACE) has been given an average recommendation of “Hold” by the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $97.57.
A number of research firms recently weighed in on RACE. UBS AG reaffirmed a “buy” rating and issued a $125.00 price objective (up from $100.00) on shares of Ferrari N.V. in a research note on Thursday, August 3rd. Kepler Capital Markets reaffirmed a “hold” rating on shares of Ferrari N.V. in a research note on Monday, May 15th. Bank of America Corporation upped their price objective on shares of Ferrari N.V. from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Evercore ISI upped their price objective on shares of Ferrari N.V. from $46.00 to $105.00 and gave the stock an “in-line” rating in a research note on Friday, September 1st. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of Ferrari N.V. in a research note on Monday, August 14th.
Shares of Ferrari N.V. (RACE) traded down 1.22% on Tuesday, reaching $110.12. 263,726 shares of the company were exchanged. Ferrari N.V. has a 52 week low of $46.39 and a 52 week high of $118.10. The company has a market capitalization of $20.81 billion, a price-to-earnings ratio of 36.87 and a beta of 1.78. The company’s 50-day moving average is $110.19 and its 200-day moving average is $87.00.
Ferrari N.V. (NYSE:RACE) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.13. Ferrari N.V. had a net margin of 14.43% and a return on equity of 128.49%. The company had revenue of $1.01 billion during the quarter. On average, equities analysts expect that Ferrari N.V. will post $3.21 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of Ferrari N.V. by 124.2% during the second quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock valued at $69,836,000 after buying an additional 449,795 shares during the last quarter. FMR LLC lifted its position in shares of Ferrari N.V. by 4.6% during the first quarter. FMR LLC now owns 126,742 shares of the company’s stock valued at $9,424,000 after buying an additional 5,620 shares during the last quarter. KCG Holdings Inc. purchased a new stake in shares of Ferrari N.V. during the first quarter valued at about $356,000. Bank of America Corp DE lifted its position in shares of Ferrari N.V. by 4.3% during the first quarter. Bank of America Corp DE now owns 896,521 shares of the company’s stock valued at $66,665,000 after buying an additional 36,852 shares during the last quarter. Finally, Opera Trading Capital purchased a new stake in shares of Ferrari N.V. during the second quarter valued at about $172,000. 29.78% of the stock is owned by institutional investors and hedge funds.
Ferrari N.V. Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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