Evercore ISI Increases Ferrari (NYSE:RACE) Price Target to $465.00

Ferrari (NYSE:RACE) had its target price lifted by stock analysts at Evercore ISI from $430.00 to $465.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective points to a potential upside of 9.51% from the stock’s current price.

A number of other research firms also recently weighed in on RACE. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. UBS Group upped their price objective on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Sanford C. Bernstein upped their price objective on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Finally, Bank of America upped their price objective on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $413.86.

Ferrari Trading Up 3.5 %

NYSE:RACE opened at $424.61 on Monday. Ferrari has a twelve month low of $273.39 and a twelve month high of $442.80. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average price of $418.37 and a two-hundred day moving average price of $369.56.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. Equities analysts predict that Ferrari will post 8.31 earnings per share for the current year.

Institutional Trading of Ferrari

Several large investors have recently modified their holdings of the stock. Busey Bank acquired a new stake in shares of Ferrari during the 1st quarter worth $235,000. Venturi Wealth Management LLC acquired a new stake in shares of Ferrari during the 1st quarter worth $422,000. Rational Advisors LLC acquired a new stake in shares of Ferrari during the 1st quarter worth $436,000. Raymond James Financial Services Advisors Inc. boosted its stake in Ferrari by 86.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,263 shares of the company’s stock valued at $5,346,000 after buying an additional 5,669 shares in the last quarter. Finally, Forza Wealth Management LLC acquired a new stake in Ferrari in the first quarter valued at about $218,000.

Ferrari Company Profile

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.