Ferrari (NYSE:RACE) Given Consensus Recommendation of “Hold” by Brokerages

Ferrari (NYSE:RACEGet Free Report) has been given a consensus rating of “Hold” by the ten research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $456.67.

A number of research firms have recently issued reports on RACE. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America lifted their price objective on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price objective on shares of Ferrari in a research report on Monday, April 22nd. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Finally, Evercore ISI increased their price target on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, April 22nd.

View Our Latest Research Report on Ferrari

Ferrari Stock Performance

NYSE RACE opened at $411.00 on Tuesday. The firm’s fifty day moving average price is $418.08 and its two-hundred day moving average price is $388.80. Ferrari has a 1 year low of $283.20 and a 1 year high of $442.80. The firm has a market capitalization of $75.93 billion, a P/E ratio of 52.49, a price-to-earnings-growth ratio of 4.96 and a beta of 0.98. The company has a current ratio of 4.18, a quick ratio of 3.25 and a debt-to-equity ratio of 0.80.

Ferrari (NYSE:RACEGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.08. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. As a group, research analysts anticipate that Ferrari will post 8.2 EPS for the current year.

Ferrari Dividend Announcement

The company also recently announced an annual dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were issued a $2.443 dividend. The ex-dividend date of this dividend was Monday, April 22nd. This represents a yield of 0.62%. Ferrari’s payout ratio is presently 6.58%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after buying an additional 30 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Ferrari by 0.7% in the first quarter. Sequoia Financial Advisors LLC now owns 4,277 shares of the company’s stock valued at $1,865,000 after acquiring an additional 30 shares during the last quarter. Lorne Steinberg Wealth Management Inc. increased its position in Ferrari by 0.3% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 9,552 shares of the company’s stock valued at $4,164,000 after purchasing an additional 30 shares during the period. Beck Bode LLC increased its position in Ferrari by 1.1% during the 1st quarter. Beck Bode LLC now owns 2,775 shares of the company’s stock valued at $1,210,000 after purchasing an additional 30 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Ferrari by 2.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,442 shares of the company’s stock worth $629,000 after purchasing an additional 31 shares during the last quarter.

About Ferrari

(Get Free Report

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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Analyst Recommendations for Ferrari (NYSE:RACE)

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