Ferrari (NYSE:RACE) Price Target Raised to $270.00

Ferrari (NYSE:RACEGet Rating) had its target price upped by UBS Group from $255.00 to $270.00 in a research note published on Wednesday, MarketBeat.com reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Exane BNP Paribas raised shares of Ferrari from a neutral rating to an outperform rating and set a €255.00 ($262.89) target price on the stock in a research report on Tuesday, April 12th. Kepler Capital Markets raised shares of Ferrari to a hold rating and set a $185.00 target price on the stock in a research report on Friday, July 8th. Credit Suisse Group reissued a buy rating and set a $285.00 target price on shares of Ferrari in a research report on Friday, June 10th. Sanford C. Bernstein initiated coverage on shares of Ferrari in a research report on Tuesday, July 19th. They set a market perform rating on the stock. Finally, StockNews.com raised shares of Ferrari from a hold rating to a buy rating in a research report on Thursday, July 14th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $237.00.

Ferrari Trading Down 1.9 %

NYSE RACE opened at $211.94 on Wednesday. The company has a quick ratio of 3.24, a current ratio of 4.14 and a debt-to-equity ratio of 1.22. The firm has a market cap of $39.16 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 3.98 and a beta of 0.95. The company has a 50 day moving average price of $192.39 and a 200 day moving average price of $205.35. Ferrari has a 52 week low of $167.45 and a 52 week high of $278.78.

Ferrari (NYSE:RACEGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.26 by $0.19. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.17 billion. Ferrari had a net margin of 19.35% and a return on equity of 40.61%. As a group, sell-side analysts forecast that Ferrari will post 4.8 EPS for the current fiscal year.

Institutional Trading of Ferrari

A number of hedge funds have recently added to or reduced their stakes in RACE. Norges Bank purchased a new stake in Ferrari during the fourth quarter worth $374,511,000. JPMorgan Chase & Co. boosted its holdings in Ferrari by 34.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,059,847 shares of the company’s stock worth $274,308,000 after buying an additional 271,513 shares in the last quarter. Ensemble Capital Management LLC boosted its holdings in Ferrari by 109.0% during the first quarter. Ensemble Capital Management LLC now owns 403,104 shares of the company’s stock worth $87,913,000 after buying an additional 210,204 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Ferrari during the fourth quarter worth $51,882,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Ferrari during the first quarter worth $37,283,000. 38.36% of the stock is owned by hedge funds and other institutional investors.

Ferrari Company Profile

(Get Rating)

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 hyper cars; 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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