Ferrari (NYSE:RACE) has received a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $231.88.
Several brokerages have commented on RACE. Kepler Capital Markets downgraded shares of Ferrari to a “hold” rating and set a $185.00 price target for the company. in a report on Friday, July 2nd. Zacks Investment Research downgraded shares of Ferrari from a “buy” rating to a “strong sell” rating in a report on Wednesday, July 21st. TheStreet raised shares of Ferrari from a “c+” rating to a “b” rating in a report on Monday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Ferrari in a report on Thursday, May 6th. Finally, Morgan Stanley dropped their price objective on shares of Ferrari from $273.00 to $265.00 and set an “overweight” rating for the company in a report on Wednesday, May 5th.
Large investors have recently modified their holdings of the stock. JJJ Advisors Inc. increased its position in shares of Ferrari by 174.5% in the first quarter. JJJ Advisors Inc. now owns 129 shares of the company’s stock valued at $27,000 after acquiring an additional 82 shares during the period. FFT Wealth Management LLC purchased a new position in shares of Ferrari in the second quarter valued at about $29,000. Institutional & Family Asset Management LLC purchased a new position in shares of Ferrari in the first quarter valued at about $39,000. First Horizon Advisors Inc. increased its position in shares of Ferrari by 40.6% in the first quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $52,000 after acquiring an additional 73 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position in shares of Ferrari by 29.6% in the first quarter. Rockefeller Capital Management L.P. now owns 258 shares of the company’s stock valued at $53,000 after acquiring an additional 59 shares during the period. Institutional investors own 28.71% of the company’s stock.
Shares of NYSE:RACE opened at $217.40 on Wednesday. The firm has a fifty day moving average price of $212.30 and a two-hundred day moving average price of $207.61. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.63 and a quick ratio of 2.94. Ferrari has a one year low of $176.03 and a one year high of $233.66. The company has a market cap of $40.16 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 2.50 and a beta of 0.89.
Ferrari (NYSE:RACE) last announced its quarterly earnings results on Sunday, August 1st. The company reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.08). Ferrari had a net margin of 21.11% and a return on equity of 43.39%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was up 81.3% on a year-over-year basis. Equities research analysts expect that Ferrari will post 4.99 EPS for the current fiscal year.
Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The firm’s models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari, and the FF four-wheel drive. It participates in car racing such as Formula One.
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