Brokerages Set Ferrari N.V. (NYSE:RACE) Target Price at $526.25

Ferrari N.V. (NYSE:RACE) has earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $526.25.

RACE has been the topic of a number of analyst reports. Wall Street Zen cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. JPMorgan Chase & Co. reduced their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. UBS Group boosted their price objective on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RACE. GW&K Investment Management LLC lifted its holdings in shares of Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after buying an additional 52 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in Ferrari in the 4th quarter worth $32,000. Alpine Bank Wealth Management bought a new position in shares of Ferrari during the 1st quarter valued at about $33,000. Brooklyn Investment Group boosted its holdings in shares of Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after purchasing an additional 61 shares during the last quarter. Finally, Webster Bank N. A. purchased a new position in shares of Ferrari during the first quarter valued at about $43,000.

Ferrari Stock Performance

NYSE RACE opened at $490.44 on Wednesday. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The company has a fifty day moving average of $478.56 and a 200-day moving average of $455.47. The company has a market capitalization of $118.87 billion, a P/E ratio of 51.90, a P/E/G ratio of 5.58 and a beta of 1.09. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.95 EPS. As a group, equities research analysts predict that Ferrari will post 9.22 EPS for the current fiscal year.

About Ferrari

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.