Ferrari (NYSE:RACE) Receives $456.67 Consensus PT from Analysts

Shares of Ferrari (NYSE:RACEGet Free Report) have been assigned an average recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $461.67.

A number of brokerages have commented on RACE. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Bank of America raised their price objective on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. UBS Group upped their target price on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a report on Monday. Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. Finally, Morgan Stanley restated an “overweight” rating and issued a $400.00 price objective on shares of Ferrari in a report on Monday, April 22nd.

Check Out Our Latest Analysis on RACE

Institutional Trading of Ferrari

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in Ferrari by 12.5% in the first quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock valued at $101,000 after purchasing an additional 27 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after buying an additional 30 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Ferrari by 0.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,277 shares of the company’s stock valued at $1,865,000 after buying an additional 30 shares in the last quarter. Lorne Steinberg Wealth Management Inc. grew its position in shares of Ferrari by 0.3% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 9,552 shares of the company’s stock valued at $4,164,000 after buying an additional 30 shares during the last quarter. Finally, Beck Bode LLC raised its stake in Ferrari by 1.1% during the 1st quarter. Beck Bode LLC now owns 2,775 shares of the company’s stock worth $1,210,000 after acquiring an additional 30 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $421.69 on Friday. The company’s fifty day moving average is $415.15 and its 200 day moving average is $395.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. Ferrari has a fifty-two week low of $285.02 and a fifty-two week high of $442.80.

Ferrari (NYSE:RACEGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. On average, analysts forecast that Ferrari will post 8.2 earnings per share for the current fiscal year.

Ferrari Announces Dividend

The business also recently announced an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were issued a $2.443 dividend. The ex-dividend date of this dividend was Monday, April 22nd. This represents a yield of 0.62%.

About Ferrari

(Get Free Report

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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Analyst Recommendations for Ferrari (NYSE:RACE)

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