Ferrari (NYSE: RACE) was upgraded by research analysts at ValuEngine from a "hold" rating to a "buy" rating in a note issued to investors on Friday, October 26th.
Several other equities analysts also recently issued reports on the company. Jefferies Financial Group downgraded Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, October 11th. Societe Generale upgraded Ferrari from a "sell" rating to a "hold" rating and lifted their price objective for the company from $ 94.00 to $ 130.00 in a research report on Wednesday, October 10th. Zacks Investment Research downgraded Ferrari from a "buy" rating to a "hold" rating in a research report on Friday, October 5th. Morgan Stanley reissued an "equal weight" rating and issued a $ 140.00 target price (up from $ 120.00) on shares of Ferrari in a research note on Tuesday, October 2nd. Finally, Credit Suisse Group lifted their target price on Ferrari from $ 156.00 to $ 160.00 and gave the company an "outperform" rating in a research note on Thursday, September 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of "Hold" and a consensus price target of $ 145.67.
Shares of NYSE: RACE traded down $ 1.06 during trading on Friday, hitting $ 110.74. 174,884 shares of the stock were exchanged, compared to its average volume of 825,698. Ferrari has a 1-year low of $ 103.65 and a 1-year high of $ 149.85. The firm has a market capitalization of $ 20.94 billion, a PE ratio of 34.71, a PEG ratio of 1.91 and a beta of 1.44. The company has a current ratio of 4.05, a quick ratio of 3.40 and a debt-to-equity ratio of 1.53.
Ferrari (NYSE: RACE) last posted its earnings results on Monday, November 5th. The company reported $ 0.90 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $ 0.88 by $ 0.02. The business had revenue of $ 838.00 million during the quarter, compared to the consensus estimate of $ 864.50 million. Ferrari had a return on equity of 62.07% and a net margin of 21.34%. Ferrari's revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $ 0.74 EPS. On average, sell-side analysts predict that Ferrari will post 3.57 EPS for the current year.
A number of large investors have recently bought and sold shares of RACE. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in Ferrari in the third quarter valued at about $ 120,000. Nisa Investment Advisors LLC acquired a new position in Ferrari in the second quarter valued at about $ 155,000. Advisor Partners LLC acquired a new position in Ferrari in the third quarter valued at about $ 209,000. Sfmg LLC bought a new stake in shares of Ferrari in the second quarter valued at about $ 214,000. Finally, HRT Financial LLC bought a new stake in shares of Ferrari in the third quarter valued at about $ 230,000. 33.46% of the stock is owned by hedge funds and other institutional investors.
Ferrari Company Profile
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
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To view ValuEngine's full report, visit ValuEngine's official website.
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