Ferrari N.V. (NYSE:RACE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ferrari N.V. (NYSE:RACE) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $471.97.

Several equities research analysts recently commented on RACE shares. UBS Group lifted their target price on shares of Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $388.00 to $438.00 in a research note on Monday, June 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Finally, Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in Ferrari by 78.9% in the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock valued at $1,527,000 after acquiring an additional 1,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ferrari by 31.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock worth $82,000 after purchasing an additional 46 shares during the period. Woodline Partners LP acquired a new position in shares of Ferrari in the 1st quarter worth approximately $1,519,000. Sivia Capital Partners LLC boosted its stake in shares of Ferrari by 67.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock valued at $448,000 after purchasing an additional 368 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Ferrari by 7.5% in the 2nd quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock valued at $672,000 after purchasing an additional 96 shares during the last quarter.

Ferrari Stock Performance

Shares of RACE stock opened at $382.59 on Friday. The firm has a market capitalization of $89.51 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 3.22 and a beta of 0.92. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $355.46 and its 200-day moving average price is $352.45. Ferrari has a 12 month low of $312.51 and a 12 month high of $519.10.

About Ferrari

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.