Ferrari (NYSE:RACE) Price Target Raised to $570.00

Ferrari (NYSE:RACE) had its price target increased by UBS Group from $540.00 to $570.00 in a research note released on Wednesday, MarketBeat.com reports. They currently have a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Citigroup reaffirmed a “sell” rating on shares of Ferrari in a research report on Monday, August 11th. Wall Street Zen lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Cfra Research lowered shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $531.67.

Ferrari Price Performance

Shares of NYSE:RACE opened at $489.06 on Wednesday. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. The business has a 50-day simple moving average of $479.60 and a two-hundred day simple moving average of $467.07. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The firm has a market cap of $118.54 billion, a price-to-earnings ratio of 50.47, a price-to-earnings-growth ratio of 5.64 and a beta of 1.10.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the firm earned $2.29 EPS. Ferrari’s revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, analysts expect that Ferrari will post 9.22 earnings per share for the current year.

Hedge Funds Weigh In On Ferrari

Institutional investors have recently made changes to their positions in the company. GW&K Investment Management LLC increased its stake in shares of Ferrari by 288.9% during the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after buying an additional 52 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Ferrari during the second quarter valued at $30,000. Park Square Financial Group LLC purchased a new position in shares of Ferrari during the fourth quarter valued at $32,000. Alpine Bank Wealth Management purchased a new position in shares of Ferrari during the first quarter valued at $33,000. Finally, Brooklyn Investment Group increased its stake in shares of Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after buying an additional 61 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.