Ferrari (RACE) Price Target Raised to $105.00 at Morgan Stanley

Ferrari (NYSE:RACE) had its price target lifted by Morgan Stanley from $100.00 to $105.00 in a report published on Wednesday. Morgan Stanley currently has an underweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Ferrari from a buy rating to a sell rating in a research report on Thursday, February 8th. HSBC assumed coverage on shares of Ferrari in a research report on Monday, December 11th. They set a hold rating for the company. Jefferies Group raised their price target on shares of Ferrari to $130.00 and gave the company a buy rating in a research report on Friday, December 8th. BidaskClub downgraded shares of Ferrari from a strong-buy rating to a buy rating in a research report on Thursday, November 9th. Finally, TheStreet raised shares of Ferrari from a c rating to a b- rating in a research report on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $118.57.

Shares of Ferrari (NYSE:RACE) opened at $129.71 on Wednesday. The firm has a market cap of $24,390.00 and a P/E ratio of 40.66. The company has a current ratio of 3.26, a quick ratio of 2.68 and a debt-to-equity ratio of 2.77. Ferrari has a 1 year low of $64.76 and a 1 year high of $131.20.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.03). The firm had revenue of $840.00 million for the quarter, compared to the consensus estimate of $869.74 million. Ferrari had a net margin of 15.74% and a return on equity of 98.82%. Ferrari’s revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. research analysts forecast that Ferrari will post 3.3 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Rehmann Capital Advisory Group purchased a new stake in Ferrari in the third quarter worth approximately $263,000. Comerica Bank boosted its holdings in Ferrari by 18.5% in the third quarter. Comerica Bank now owns 12,040 shares of the company’s stock worth $1,411,000 after purchasing an additional 1,880 shares during the last quarter. Sei Investments Co. boosted its holdings in Ferrari by 1,401.8% in the third quarter. Sei Investments Co. now owns 95,937 shares of the company’s stock worth $10,599,000 after purchasing an additional 89,549 shares during the last quarter. Cavalier Investments LLC boosted its holdings in Ferrari by 35.7% in the third quarter. Cavalier Investments LLC now owns 11,400 shares of the company’s stock worth $1,259,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in Ferrari by 142.2% in the second quarter. Royal Bank of Canada now owns 10,758 shares of the company’s stock worth $925,000 after purchasing an additional 6,316 shares during the last quarter. Institutional investors own 31.93% of the company’s stock.

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Ferrari 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.

Analyst Recommendations for Ferrari (NYSE:RACE)

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