Ferrari N.V. (NYSE:RACE) Given Consensus Recommendation of “Buy” by Analysts

Shares of Ferrari N.V. (NYSE:RACE) have earned an average rating of “Buy” from the seventeen brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and four have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $489.4670.

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ferrari in a report on Monday. Barclays set a $420.00 price target on shares of Ferrari and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Loop Capital set a $481.67 price target on Ferrari in a research report on Thursday, December 4th. The Goldman Sachs Group upgraded Ferrari to a “strong-buy” rating in a research note on Monday, November 24th. Finally, Citigroup cut their price objective on Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research report on Thursday, October 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Callan Family Office LLC raised its stake in Ferrari by 58.5% during the 2nd quarter. Callan Family Office LLC now owns 4,378 shares of the company’s stock valued at $2,148,000 after purchasing an additional 1,615 shares during the period. TD Asset Management Inc boosted its position in shares of Ferrari by 1.1% in the second quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock worth $203,677,000 after buying an additional 4,434 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Ferrari by 26.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,599 shares of the company’s stock valued at $5,205,000 after buying an additional 2,220 shares in the last quarter. Rheos Capital Works Inc. raised its position in Ferrari by 14.1% during the second quarter. Rheos Capital Works Inc. now owns 161,700 shares of the company’s stock valued at $79,353,000 after buying an additional 20,000 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Ferrari during the second quarter valued at $640,000.

Ferrari Stock Performance

Shares of NYSE RACE opened at $375.82 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78. Ferrari has a one year low of $356.93 and a one year high of $519.10. The business’s 50-day moving average price is $391.87 and its two-hundred day moving average price is $445.76. The company has a market capitalization of $91.09 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.15. Ferrari had a return on equity of 44.20% and a net margin of 22.65%.The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.94 billion. Ferrari has set its FY 2025 guidance at 10.290- EPS. Analysts anticipate that Ferrari will post 9.22 earnings per share for the current fiscal year.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.