Ferrari N.V. (NYSE:RACE) Given Average Rating of “Buy” by Analysts

Ferrari N.V. (NYSE:RACE) has received a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $91.67.

A number of research firms have recently weighed in on RACE. UBS AG reissued a “buy” rating and set a $125.00 price target (up previously from $100.00) on shares of Ferrari N.V. in a research report on Wednesday. Zacks Investment Research raised shares of Ferrari N.V. from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a report on Saturday, July 22nd. Bank of America Corporation reaffirmed a “buy” rating and issued a $100.00 price objective (up previously from $90.00) on shares of Ferrari N.V. in a report on Friday, June 16th. Kepler Capital Markets reaffirmed a “hold” rating on shares of Ferrari N.V. in a report on Monday, May 15th. Finally, Morgan Stanley decreased their price objective on shares of Ferrari N.V. from $100.00 to $72.00 and set an “overweight” rating for the company in a report on Monday, May 8th.

Shares of Ferrari N.V. (NYSE:RACE) opened at 108.67 on Monday. The company has a 50-day moving average of $97.27 and a 200 day moving average of $80.03. The stock has a market cap of $20.53 billion, a P/E ratio of 36.08 and a beta of 1.82. Ferrari N.V. has a 52-week low of $46.39 and a 52-week high of $111.77.

Ferrari N.V. (NYSE:RACE) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. Ferrari N.V. had a net margin of 14.43% and a return on equity of 128.49%. The business had revenue of $1.01 billion during the quarter. Equities research analysts forecast that Ferrari N.V. will post $3.08 EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Ferrari N.V. by 6.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,149 shares of the company’s stock valued at $125,000 after buying an additional 128 shares during the period. Comerica Bank increased its position in shares of Ferrari N.V. by 1.3% in the first quarter. Comerica Bank now owns 10,857 shares of the company’s stock valued at $821,000 after buying an additional 144 shares during the period. Wetherby Asset Management Inc. increased its position in shares of Ferrari N.V. by 3.1% in the first quarter. Wetherby Asset Management Inc. now owns 5,575 shares of the company’s stock valued at $415,000 after buying an additional 169 shares during the period. World Asset Management Inc increased its position in shares of Ferrari N.V. by 1.7% in the first quarter. World Asset Management Inc now owns 11,775 shares of the company’s stock valued at $876,000 after buying an additional 197 shares during the period. Finally, Ray Gerald L & Associates Ltd. increased its position in shares of Ferrari N.V. by 3.9% in the first quarter. Ray Gerald L & Associates Ltd. now owns 6,470 shares of the company’s stock valued at $481,000 after buying an additional 240 shares during the period. 32.54% of the stock is owned by institutional investors.

Ferrari N.V. Company Profile

Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.

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