Ferrari (NYSE:RACE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.
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. “
A number of other equities research analysts also recently weighed in on the company. Morgan Stanley raised their price target on Ferrari from $100.00 to $105.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. UBS reaffirmed a “buy” rating and set a $160.00 price target (up from $129.00) on shares of Ferrari in a research note on Monday, February 26th. Finally, Credit Suisse Group began coverage on Ferrari in a research note on Monday, March 12th. They set an “outperform” rating and a $150.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Ferrari has an average rating of “Hold” and an average target price of $126.88.
Ferrari stock traded down $0.07 during mid-day trading on Wednesday, hitting $125.16. The company’s stock had a trading volume of 158,063 shares, compared to its average volume of 535,130. The company has a market cap of $23,243.23, a P/E ratio of 39.24, a P/E/G ratio of 2.67 and a beta of 1.39. The company has a current ratio of 3.27, a quick ratio of 2.65 and a debt-to-equity ratio of 2.30. Ferrari has a 52-week low of $70.78 and a 52-week high of $131.20.
Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.03). The business had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $869.74 million. Ferrari had a return on equity of 88.98% and a net margin of 15.74%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. equities analysts forecast that Ferrari will post 3.3 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG increased its holdings in shares of Ferrari by 44.2% during the 4th quarter. Deutsche Bank AG now owns 1,228,151 shares of the company’s stock valued at $128,756,000 after acquiring an additional 376,174 shares during the last quarter. BB&T Securities LLC grew its holdings in Ferrari by 10.5% in the 4th quarter. BB&T Securities LLC now owns 6,879 shares of the company’s stock valued at $721,000 after buying an additional 651 shares during the last quarter. AXA grew its holdings in Ferrari by 16.0% in the 4th quarter. AXA now owns 139,627 shares of the company’s stock valued at $14,638,000 after buying an additional 19,239 shares during the last quarter. Ensemble Capital Management LLC grew its holdings in Ferrari by 19.2% in the 4th quarter. Ensemble Capital Management LLC now owns 206,478 shares of the company’s stock valued at $21,647,000 after buying an additional 33,228 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Ferrari by 11.9% in the 4th quarter. Sei Investments Co. now owns 107,372 shares of the company’s stock valued at $11,256,000 after buying an additional 11,435 shares during the last quarter. 32.50% of the stock is currently owned by institutional investors and hedge funds.
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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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