Ferrari (NYSE:RACE) has received a consensus rating of “Hold” from the seventeen brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $236.29.
Several research analysts have issued reports on RACE shares. Morgan Stanley lifted their target price on shares of Ferrari from $265.00 to $273.00 and gave the stock an “overweight” rating in a report on Wednesday, February 3rd. UBS Group decreased their price target on shares of Ferrari from $247.00 to $238.00 and set a “buy” rating on the stock in a research report on Tuesday, March 30th. JPMorgan Chase & Co. boosted their price objective on Ferrari from $195.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, April 22nd. HSBC downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Thursday, February 11th. Finally, Citigroup downgraded shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Wednesday, February 3rd.
Shares of NYSE RACE opened at $217.58 on Thursday. Ferrari has a 1 year low of $147.08 and a 1 year high of $233.66. The company has a debt-to-equity ratio of 1.80, a current ratio of 4.63 and a quick ratio of 3.93. The firm has a 50-day moving average of $206.13 and a 200 day moving average of $206.77. The stock has a market cap of $40.20 billion, a P/E ratio of 69.96, a price-to-earnings-growth ratio of 4.59 and a beta of 1.00.
Ferrari (NYSE:RACE) last released its earnings results on Monday, February 1st. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.24. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. Ferrari had a net margin of 15.50% and a return on equity of 34.85%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. Research analysts expect that Ferrari will post 3.31 earnings per share for the current fiscal year.
The company also recently declared an annual dividend, which will be paid on Wednesday, May 5th. Investors of record on Tuesday, April 20th will be issued a dividend of $1.0445 per share. The ex-dividend date of this dividend is Monday, April 19th. This represents a yield of 0.5%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in shares of Ferrari by 4.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,996,362 shares of the company’s stock valued at $1,835,620,000 after buying an additional 322,796 shares during the last quarter. Bank of Italy boosted its holdings in Ferrari by 9.1% during the 4th quarter. Bank of Italy now owns 1,993,994 shares of the company’s stock valued at $461,594,000 after acquiring an additional 165,750 shares during the period. Norges Bank bought a new position in Ferrari in the 4th quarter valued at $439,841,000. Amundi Pioneer Asset Management Inc. increased its stake in Ferrari by 15.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,800,978 shares of the company’s stock worth $413,361,000 after purchasing an additional 240,272 shares during the period. Finally, WCM Investment Management LLC lifted its position in shares of Ferrari by 4.4% during the fourth quarter. WCM Investment Management LLC now owns 1,362,346 shares of the company’s stock worth $312,686,000 after purchasing an additional 57,771 shares during the last quarter. 32.49% of the stock is owned by institutional investors and hedge funds.
Ferrari Company Profile
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; one-off and track cars; and Icona cars. It also provides racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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