Ferrari (NYSE:RACE) Stock Rating Reaffirmed by Morgan Stanley

Ferrari (NYSE:RACE)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Morgan Stanley in a report issued on Monday, Benzinga reports. They currently have a $400.00 price target on the stock. Morgan Stanley’s price target suggests a potential downside of 5.80% from the stock’s current price.

RACE has been the subject of a number of other reports. Bank of America lifted their target price on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Sanford C. Bernstein lifted their price target on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. UBS Group lifted their price target on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $413.86.

Ferrari Price Performance

NYSE:RACE opened at $424.61 on Monday. The stock has a fifty day moving average price of $418.37 and a 200 day moving average price of $369.56. Ferrari has a 12-month low of $273.39 and a 12-month high of $442.80. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81.

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

Institutional Trading of Ferrari

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares in the last quarter. Merlin Capital Inc increased its position in shares of Ferrari by 1.3% during the third quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock worth $738,000 after purchasing an additional 32 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Ferrari by 16.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 239 shares of the company’s stock valued at $104,000 after acquiring an additional 33 shares during the period. Kolinsky Wealth Management LLC increased its position in Ferrari by 2.2% in the 4th quarter. Kolinsky Wealth Management LLC now owns 1,704 shares of the company’s stock valued at $577,000 after acquiring an additional 36 shares during the period. Finally, Allworth Financial LP increased its position in Ferrari by 17.0% in the 4th quarter. Allworth Financial LP now owns 255 shares of the company’s stock valued at $86,000 after acquiring an additional 37 shares during the period.

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.