Ferrari (NYSE:RACE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ferrari (NYSE:RACE) has received a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $481.67.

RACE has been the subject of several research reports. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. UBS Group boosted their price target on shares of Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Finally, Morgan Stanley increased their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RACE. Vanguard Group Inc. increased its holdings in shares of Ferrari by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after purchasing an additional 61,588 shares during the last quarter. Capital Research Global Investors grew its stake in Ferrari by 3.9% in the 1st quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock valued at $579,585,000 after buying an additional 49,367 shares during the last quarter. Legal & General Group Plc raised its holdings in Ferrari by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after acquiring an additional 30,014 shares during the period. Capital International Investors lifted its position in Ferrari by 314.3% during the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after acquiring an additional 791,596 shares during the last quarter. Finally, Capital World Investors lifted its position in Ferrari by 34.3% during the first quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after acquiring an additional 245,872 shares during the last quarter.

Ferrari Trading Down 0.1 %

RACE opened at $449.81 on Monday. The stock has a market capitalization of $83.10 billion, a P/E ratio of 57.45, a P/E/G ratio of 4.92 and a beta of 0.99. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. Ferrari has a 12 month low of $296.34 and a 12 month high of $498.23. The firm’s fifty day simple moving average is $459.71 and its 200 day simple moving average is $433.15.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 earnings per share. As a group, research analysts anticipate that Ferrari will post 8.81 EPS for the current fiscal year.

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.