Ferrari N.V. (NYSE:RACE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, July 22nd. The firm currently has a $112.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 0.42% from the company’s current price.
According to Zacks, “Ferrari N.V. is engaged in designing, manufacturing and selling sports cars. Its products include sports car models consists of 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. The Company also produces a limited edition supercar, LaFerrari and limited series and one-off cars. It operates primarily in Europe, the Middle East, India, Africa, Americas, Greater China and Rest of Asia-Pacific region. Ferrari N.V. is headquartered in Maranello, Italy. “
Several other research analysts have also issued reports on RACE. UBS AG boosted their target price on Ferrari N.V. from $74.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Jefferies Group LLC set a $96.00 price target on Ferrari N.V. and gave the company a “buy” rating in a report on Saturday, May 6th. Bank of America Corporation boosted their price target on Ferrari N.V. from $82.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 15th. Kepler Capital Markets upgraded Ferrari N.V. to a “hold” rating in a report on Friday, May 5th. Finally, TheStreet upgraded Ferrari N.V. from a “d+” rating to a “c” rating in a report on Wednesday, March 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Ferrari N.V. presently has an average rating of “Buy” and an average target price of $91.67.
Shares of Ferrari N.V. (NYSE:RACE) traded up 2.09% during midday trading on Friday, reaching $111.53. The company had a trading volume of 672,917 shares. The firm has a market capitalization of $21.07 billion, a price-to-earnings ratio of 37.19 and a beta of 1.82. The stock has a 50-day moving average of $101.02 and a 200 day moving average of $82.09. Ferrari N.V. has a 52 week low of $46.39 and a 52 week high of $112.02.
Ferrari N.V. (NYSE:RACE) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.13. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. The company had revenue of $1.01 billion for the quarter. On average, analysts anticipate that Ferrari N.V. will post $3.07 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the company. AKO Capital LLP increased its position in shares of Ferrari N.V. by 31.1% in the first quarter. AKO Capital LLP now owns 5,441,163 shares of the company’s stock worth $400,203,000 after buying an additional 1,289,839 shares during the period. Vanguard Group Inc. increased its position in shares of Ferrari N.V. by 1.3% in the second quarter. Vanguard Group Inc. now owns 3,144,415 shares of the company’s stock worth $270,483,000 after buying an additional 39,530 shares during the period. JPMorgan Chase & Co. increased its position in shares of Ferrari N.V. by 102.8% in the first quarter. JPMorgan Chase & Co. now owns 1,830,812 shares of the company’s stock worth $136,139,000 after buying an additional 928,230 shares during the period. Credit Suisse AG increased its position in shares of Ferrari N.V. by 44.4% in the first quarter. Credit Suisse AG now owns 1,038,800 shares of the company’s stock worth $77,246,000 after buying an additional 319,185 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Ferrari N.V. by 272.9% in the first quarter. AQR Capital Management LLC now owns 934,215 shares of the company’s stock worth $69,693,000 after buying an additional 683,686 shares during the period. 32.87% of the stock is owned by institutional investors.
About Ferrari N.V.
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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