Ferrari N.V. (NYSE:RACE – Get Free Report) has been given an average recommendation of “Moderate Buy” by the twenty-three research firms that are currently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $456.71.
A number of brokerages have weighed in on RACE. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Ferrari in a research report on Tuesday, September 29th. Morningstar lowered shares of Ferrari to a “hold” rating in a report on Tuesday, June 30th. Citigroup restated a “neutral” rating on shares of Ferrari in a report on Monday, August 3rd. Banca Akros cut shares of Ferrari to a “neutral” rating in a research report on Monday, August 24th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Ferrari in a report on Monday, August 17th.
Read Our Latest Report on Ferrari
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Ferrari during the second quarter worth $952,874,000. Deutsche Bank AG acquired a new stake in shares of Ferrari in the second quarter valued at $413,209,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Ferrari in the second quarter valued at $388,816,000. Legal & General Group Plc purchased a new stake in shares of Ferrari in the 2nd quarter valued at $322,208,000. Finally, Bank of America Corp DE purchased a new stake in shares of Ferrari in the 2nd quarter valued at $311,400,000.
Ferrari Stock Performance
NYSE RACE opened at $393.33 on Tuesday. The stock has a market cap of $92.02 billion, a PE ratio of 36.52, a P/E/G ratio of 3.39 and a beta of 0.93. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86. Ferrari has a twelve month low of $312.51 and a twelve month high of $437.15. The stock has a fifty day simple moving average of $405.90 and a 200-day simple moving average of $368.85.
Ferrari (NYSE:RACE – Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the company earned $2.38 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts anticipate that Ferrari will post 11.16 earnings per share for the current year.
Ferrari Company Profile
Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its vehicle portfolio includes grand touring models, mid- and rear-engine sports cars, limited-edition special series and high-performance supercars. Ferrari also offers extensive personalization options, allowing customers to tailor vehicle specifications, materials and finishes.
The company traces its origins to 1939, when Enzo Ferrari established Auto Avio Costruzioni, and it produced its first Ferrari-badged car in 1947.
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