Ferrari (NYSE:RACE) had its target price dropped by stock analysts at UBS Group from $247.00 to $238.00 in a research note issued to investors on Tuesday, The Fly reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 16.42% from the company’s previous close.
Several other research analysts also recently issued reports on the stock. Smith Barney Citigroup downgraded shares of Ferrari from a “buy” rating to a “neutral” rating in a report on Thursday, January 7th. Zacks Investment Research downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Saturday, February 6th. Kepler Capital Markets restated a “hold” rating on shares of Ferrari in a report on Friday, March 5th. HSBC lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, February 11th. Finally, Exane BNP Paribas upgraded shares of Ferrari from an “underperform” rating to an “outperform” rating in a research report on Tuesday, December 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $212.60.
Shares of RACE opened at $204.43 on Tuesday. The company has a market capitalization of $37.77 billion, a PE ratio of 65.73, a price-to-earnings-growth ratio of 4.59 and a beta of 1.00. Ferrari has a one year low of $134.24 and a one 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 company’s fifty day moving average price is $198.57 and its 200 day moving average price is $202.82.
Ferrari (NYSE:RACE) last announced its earnings results on Monday, February 1st. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.17 by $0.24. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. Ferrari had a net margin of 15.50% and a return on equity of 34.85%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. Analysts anticipate that Ferrari will post 3.31 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. LPL Financial LLC raised its stake in shares of Ferrari by 14.7% during the third quarter. LPL Financial LLC now owns 4,112 shares of the company’s stock worth $757,000 after buying an additional 527 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ferrari during the third quarter worth approximately $644,000. Guggenheim Capital LLC raised its stake in shares of Ferrari by 21.2% during the third quarter. Guggenheim Capital LLC now owns 4,897 shares of the company’s stock worth $901,000 after buying an additional 858 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in shares of Ferrari by 8.0% during the third quarter. First Allied Advisory Services Inc. now owns 1,625 shares of the company’s stock worth $298,000 after buying an additional 121 shares during the last quarter. Finally, Truist Financial Corp raised its stake in shares of Ferrari by 7.9% during the third quarter. Truist Financial Corp now owns 23,397 shares of the company’s stock worth $4,308,000 after buying an additional 1,704 shares during the last quarter. Institutional investors own 32.49% of the company’s stock.
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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