Ferrari (NYSE:RACE) Upgraded at StockNews.com

Ferrari (NYSE:RACE) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other brokerages also recently commented on RACE. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. UBS Group lowered their price target on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and an average target price of $501.60.

Ferrari Price Performance

Shares of RACE opened at $482.09 on Wednesday. The stock’s fifty day moving average is $441.81 and its 200-day moving average is $446.95. Ferrari has a one year low of $391.54 and a one year high of $509.13. The firm has a market capitalization of $116.85 billion, a price-to-earnings ratio of 52.69, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the business earned $1.95 earnings per share. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts anticipate that Ferrari will post 9.22 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Blueshift Asset Management LLC acquired a new stake in shares of Ferrari during the first quarter worth $464,000. Harbour Investments Inc. lifted its stake in Ferrari by 105.4% during the first quarter. Harbour Investments Inc. now owns 417 shares of the company’s stock worth $178,000 after purchasing an additional 214 shares during the last quarter. Sound View Wealth Advisors Group LLC raised its holdings in shares of Ferrari by 1.0% during the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company’s stock valued at $940,000 after buying an additional 21 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in shares of Ferrari by 18.9% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,100 shares of the company’s stock valued at $471,000 after purchasing an additional 175 shares in the last quarter. Finally, University of Chicago purchased a new stake in shares of Ferrari in the first quarter worth approximately $321,000.

Ferrari Company Profile

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.