Ferrari (NYSE:RACE) had its price objective lifted by stock analysts at Morgan Stanley from $175.00 to $180.00 in a research note issued on Thursday, AnalystRatings.com reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 9.18% from the stock’s current price.
A number of other research firms also recently issued reports on RACE. Bank of America increased their target price on shares of Ferrari from $150.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Goldman Sachs Group raised shares of Ferrari from a “neutral” rating to a “buy” rating and set a $182.00 price objective for the company in a research report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price objective on shares of Ferrari from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Tuesday. Credit Suisse Group increased their price objective on shares of Ferrari from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Zacks Investment Research raised shares of Ferrari from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $174.81.
NYSE:RACE traded down $0.09 on Thursday, reaching $164.87. The stock had a trading volume of 141,222 shares, compared to its average volume of 405,923. The company has a market cap of $30.96 billion, a price-to-earnings ratio of 41.01, a P/E/G ratio of 2.43 and a beta of 1.34. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.23 and a quick ratio of 3.20. The firm’s fifty day moving average is $154.94 and its two-hundred day moving average is $154.16. Ferrari has a 12-month low of $93.85 and a 12-month high of $172.89.
Ferrari (NYSE:RACE) last released its earnings results on Monday, November 4th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.03). The firm had revenue of $915.00 million during the quarter, compared to analysts’ expectations of $889.08 million. Ferrari had a net margin of 19.67% and a return on equity of 51.17%. Ferrari’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. As a group, research analysts forecast that Ferrari will post 4.15 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in RACE. Parallel Advisors LLC lifted its stake in Ferrari by 17.3% in the third quarter. Parallel Advisors LLC now owns 440 shares of the company’s stock valued at $68,000 after buying an additional 65 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in Ferrari by 44.4% during the second quarter. Commonwealth Bank of Australia now owns 231 shares of the company’s stock worth $36,000 after acquiring an additional 71 shares during the period. Atlas Capital Advisors LLC grew its holdings in Ferrari by 63.4% during the second quarter. Atlas Capital Advisors LLC now owns 219 shares of the company’s stock worth $36,000 after acquiring an additional 85 shares during the period. San Francisco Sentry Investment Group CA grew its holdings in Ferrari by 1.9% during the second quarter. San Francisco Sentry Investment Group CA now owns 5,407 shares of the company’s stock worth $878,000 after acquiring an additional 100 shares during the period. Finally, Riverhead Capital Management LLC grew its holdings in Ferrari by 8.7% during the second quarter. Riverhead Capital Management LLC now owns 1,250 shares of the company’s stock worth $203,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 36.56% of the company’s stock.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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