Shares of Ferrari (NYSE:RACE – Get Free Report) have earned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $461.67.
Several brokerages have issued reports on RACE. Evercore ISI boosted their target price on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Jefferies Financial Group began coverage on shares of Ferrari in a research report on Friday, May 10th. They issued a “hold” rating and a $403.00 price target for the company. UBS Group increased their target price on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd.
Check Out Our Latest Research Report on Ferrari
Ferrari Stock Performance
Ferrari (NYSE:RACE – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business earned $1.99 earnings per share. Ferrari’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities analysts anticipate that Ferrari will post 8.66 earnings per share for the current fiscal year.
Institutional Trading of Ferrari
Several large investors have recently added to or reduced their stakes in RACE. Rothschild Investment LLC acquired a new stake in shares of Ferrari during the second quarter worth about $29,000. IAG Wealth Partners LLC acquired a new stake in Ferrari during the 1st quarter valued at approximately $33,000. Register Financial Advisors LLC purchased a new stake in shares of Ferrari in the 1st quarter valued at $33,000. Valley Wealth Managers Inc. acquired a new stake in shares of Ferrari in the second quarter worth $33,000. Finally, Denver PWM LLC purchased a new position in shares of Ferrari during the second quarter worth $35,000.
About Ferrari
Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.
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