Ferrari (NYSE:RACE) Stock Rating Lowered by Zacks Investment Research

ferrari nv logo
ferrari nv logo


Ferrari (NYSE:RACE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.

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. “

Other analysts also recently issued research reports about the stock. TheStreet upgraded shares of Ferrari from a “c+” rating to a “b” rating in a report on Monday, August 16th. Kepler Capital Markets downgraded shares of Ferrari to a “hold” rating and set a $185.00 price objective for the company. in a report on Friday, July 2nd. BNP Paribas downgraded shares of Ferrari from an “outperform” rating to a “neutral” rating and set a $256.00 price objective for the company. in a report on Thursday, September 16th. The Goldman Sachs Group downgraded shares of Ferrari from a “buy” rating to a “sell” rating and set a $207.00 price objective for the company. in a report on Sunday, June 13th. Finally, Exane BNP Paribas downgraded shares of Ferrari from an “outperform” rating to a “neutral” rating and set a $256.00 price objective for the company. in a report on Monday, September 20th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $236.18.

RACE opened at $207.58 on Thursday. Ferrari has a twelve month low of $176.29 and a twelve month high of $233.66. The company has a quick ratio of 2.94, a current ratio of 3.63 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average price of $216.81 and a 200 day moving average price of $211.14. The company has a market cap of $38.35 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 2.67 and a beta of 0.89.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Sunday, August 1st. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.08). Ferrari had a return on equity of 43.39% and a net margin of 21.11%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $0.04 EPS. The firm’s revenue for the quarter was up 81.3% on a year-over-year basis. As a group, sell-side analysts expect that Ferrari will post 4.73 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC raised its stake in Ferrari by 10.5% during the 1st quarter. Kestra Advisory Services LLC now owns 2,017 shares of the company’s stock worth $422,000 after acquiring an additional 191 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Ferrari by 29.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 258 shares of the company’s stock worth $53,000 after acquiring an additional 59 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Ferrari by 40.6% during the 1st quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $52,000 after acquiring an additional 73 shares in the last quarter. Bank of Italy raised its stake in Ferrari by 2.5% during the 1st quarter. Bank of Italy now owns 2,043,994 shares of the company’s stock worth $427,431,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Meristem Family Wealth LLC acquired a new stake in Ferrari during the 1st quarter worth $205,000. 31.77% of the stock is owned by institutional investors and hedge funds.

About Ferrari

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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Analyst Recommendations for Ferrari (NYSE:RACE)

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