Ferrari (RACE) Receives Average Rating of “Hold” from Analysts

Shares of Ferrari (NYSE:RACE) have earned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $115.17.

Several equities research analysts have recently issued reports on RACE shares. Zacks Investment Research downgraded shares of Ferrari from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. BidaskClub downgraded shares of Ferrari from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. TheStreet upgraded shares of Ferrari from a “c” rating to a “b-” rating in a research note on Friday, October 20th. Jefferies Group raised their price objective on shares of Ferrari to $130.00 and gave the stock a “buy” rating in a research note on Friday, December 8th. Finally, HSBC started coverage on shares of Ferrari in a research note on Monday, December 11th. They set a “hold” rating on the stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in Ferrari by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 1,917 shares of the company’s stock worth $165,000 after buying an additional 119 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Ferrari by 2.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,568 shares of the company’s stock valued at $907,000 after purchasing an additional 267 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its stake in shares of Ferrari by 5.7% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 5,010 shares of the company’s stock valued at $431,000 after purchasing an additional 270 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Ferrari by 25.0% in the 4th quarter. Victory Capital Management Inc. now owns 2,060 shares of the company’s stock valued at $216,000 after purchasing an additional 412 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Ferrari by 24.3% in the 3rd quarter. D.A. Davidson & CO. now owns 2,510 shares of the company’s stock valued at $277,000 after purchasing an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 31.86% of the company’s stock.

Ferrari (NYSE RACE) traded down $0.47 during trading hours on Friday, hitting $119.15. 305,900 shares of the stock were exchanged, compared to its average volume of 656,838. Ferrari has a 12 month low of $64.40 and a 12 month high of $130.63. The company has a market capitalization of $23,445.41, a price-to-earnings ratio of 37.31, a price-to-earnings-growth ratio of 2.47 and a beta of 1.59. The company has a debt-to-equity ratio of 2.77, a quick ratio of 2.68 and a current ratio of 3.26.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.03). Ferrari had a net margin of 15.74% and a return on equity of 98.82%. The firm had revenue of $840.00 million during the quarter, compared to the consensus estimate of $869.74 million. During the same period in the prior year, the business earned $0.69 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. research analysts expect that Ferrari will post 3.59 EPS for the current fiscal year.

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About Ferrari

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.

Analyst Recommendations for Ferrari (NYSE:RACE)

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