Ferrari N.V. (NYSE:RACE) has been given a consensus rating of “Buy” by the eleven ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $91.67.
RACE has been the subject of a number of research analyst reports. UBS AG reaffirmed a “buy” rating and set a $100.00 price objective (up previously from $92.00) on shares of Ferrari N.V. in a research report on Tuesday, July 11th. Zacks Investment Research lowered shares of Ferrari N.V. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Jefferies Group LLC reissued a “buy” rating and issued a $74.00 price target on shares of Ferrari N.V. in a research report on Tuesday, April 18th. Morgan Stanley dropped their price target on shares of Ferrari N.V. from $100.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, May 8th. Finally, Bank of America Corporation raised their price objective on shares of Ferrari N.V. from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, May 5th.
Shares of Ferrari N.V. (NYSE:RACE) traded down 0.023% during mid-day trading on Monday, hitting $110.025. The stock had a trading volume of 119,586 shares. The firm’s 50 day moving average price is $98.38 and its 200-day moving average price is $80.97. The company has a market cap of $20.79 billion, a PE ratio of 36.529 and a beta of 1.82. Ferrari N.V. has a one year low of $46.39 and a one year 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 (EPS) for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $1.01 billion during the quarter. On average, equities research analysts anticipate that Ferrari N.V. will post $3.08 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Aviance Capital Management LLC bought a new stake in shares of Ferrari N.V. during the second quarter worth approximately $130,000. Victory Capital Management Inc. acquired a new stake in shares of Ferrari N.V. during the first quarter valued at about $127,000. PNC Financial Services Group Inc. raised its stake in shares of Ferrari N.V. by 48.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock valued at $135,000 after buying an additional 586 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Ferrari N.V. by 188.8% in the first quarter. Quadrant Capital Group LLC now owns 1,952 shares of the company’s stock worth $136,000 after buying an additional 1,276 shares during the period. Finally, Opera Trading Capital purchased a new position in shares of Ferrari N.V. during the second quarter worth approximately $172,000. Institutional investors and hedge funds own 32.87% of the company’s stock.
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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