Ferrari (NYSE:RACE) Price Target Raised to $465.00

Ferrari (NYSE:RACE) had its target price boosted by Evercore ISI from $430.00 to $465.00 in a report published on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also recently commented on RACE. Barclays cut shares of Ferrari from an overweight rating to an equal weight rating in a research note on Thursday, April 4th. StockNews.com raised Ferrari from a hold rating to a buy rating in a research note on Friday, March 22nd. Citigroup lowered Ferrari from a neutral rating to a sell rating in a research note on Monday, March 4th. UBS Group lifted their price objective on Ferrari from $413.00 to $448.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Finally, Bank of America upped their target price on shares of Ferrari from $458.00 to $512.00 and gave the company a buy rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $413.86.

Ferrari Stock Performance

NYSE:RACE opened at $410.27 on Monday. Ferrari has a 1 year low of $273.39 and a 1 year high of $442.80. The firm has a 50 day moving average of $417.43 and a 200-day moving average of $368.72. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81.

Ferrari (NYSE:RACE) last announced its earnings results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Equities research analysts expect that Ferrari will post 8.31 earnings per share for the current fiscal year.

Ferrari Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be issued a dividend of $2.443 per share. This represents a yield of 0.62%. The ex-dividend date of this dividend is Monday, April 22nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RACE. Jamison Private Wealth Management Inc. acquired a new position in Ferrari during the 4th quarter worth approximately $27,000. Register Financial Advisors LLC bought a new stake in shares of Ferrari in the first quarter worth $33,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of Ferrari by 320.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after purchasing an additional 80 shares in the last quarter. Blue Trust Inc. boosted its holdings in Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Ferrari in the fourth quarter valued at $43,000.

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.