Ferrari (NYSE:RACE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, February 2nd. The brokerage currently has a $134.00 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 11.44% from the stock’s current price.
According to Zacks, “Ferrari N.V. is engaged in designing, manufacturing and selling sports cars. Its products include sports car models consists of 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A as well as two grand tourer (GT) cars: California T and FF. The Company also produces a limited edition supercar, LaFerrari and limited series and one-off cars. It operates primarily in Europe, the Middle East, India, Africa, Americas, Greater China and Rest of Asia-Pacific region. Ferrari N.V. is headquartered in Maranello, Italy. “
A number of other brokerages have also recently weighed in on RACE. TheStreet upgraded shares of Ferrari from a “c” rating to a “b-” rating in a report on Friday, October 20th. Jefferies Group raised their target price on shares of Ferrari to $130.00 and gave the stock a “buy” rating in a report on Friday, December 8th. HSBC initiated coverage on shares of Ferrari in a report on Monday, December 11th. They set a “hold” rating for the company. Finally, BidaskClub cut shares of Ferrari from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $117.86.
Ferrari (NYSE RACE) traded up $0.62 during trading on Friday, hitting $120.24. 1,076,555 shares of the stock traded hands, compared to its average volume of 664,335. The company has a quick ratio of 2.68, a current ratio of 3.26 and a debt-to-equity ratio of 2.77. The company has a market capitalization of $22,720.00 and a PE ratio of 37.69. Ferrari has a twelve month low of $64.40 and a twelve month high of $130.63.
Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.03). The company had revenue of $840.00 million during the quarter, compared to the consensus estimate of $869.74 million. Ferrari had a net margin of 15.74% and a return on equity of 98.82%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. equities research analysts forecast that Ferrari will post 3.59 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of RACE. Wells Fargo & Company MN boosted its stake in Ferrari by 3.6% in the 2nd quarter. Wells Fargo & Company MN now owns 95,098 shares of the company’s stock worth $8,180,000 after purchasing an additional 3,305 shares during the period. Ameriprise Financial Inc. acquired a new position in Ferrari in the 2nd quarter worth approximately $216,000. PNC Financial Services Group Inc. boosted its stake in Ferrari by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,917 shares of the company’s stock worth $165,000 after purchasing an additional 119 shares during the period. Vanguard Group Inc. boosted its stake in Ferrari by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,144,415 shares of the company’s stock worth $270,483,000 after purchasing an additional 39,530 shares during the period. Finally, FMR LLC boosted its stake in Ferrari by 127.4% in the 2nd quarter. FMR LLC now owns 288,178 shares of the company’s stock worth $24,789,000 after purchasing an additional 161,436 shares during the period. 31.86% of the stock is owned by hedge funds and other institutional investors.
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Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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