Ferrari N.V. (NYSE:RACE) Given Average Recommendation of “Moderate Buy” by Brokerages

Ferrari N.V. (NYSE:RACE) has been given a consensus recommendation of “Moderate Buy” by the seventeen research firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $470.6973.

RACE has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. JPMorgan Chase & Co. increased their price target on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Morgan Stanley raised Ferrari from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $388.00 to $438.00 in a research note on Monday, June 15th. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, UBS Group reduced their price target on Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st.

Ferrari Price Performance

RACE stock opened at $362.88 on Wednesday. Ferrari has a 1 year low of $312.51 and a 1 year high of $519.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The stock’s 50 day moving average price is $347.80 and its 200 day moving average price is $353.17. The firm has a market cap of $84.89 billion, a P/E ratio of 34.82, a PEG ratio of 3.45 and a beta of 0.93.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fideuram Asset Management Ireland dac purchased a new position in shares of Ferrari during the 4th quarter worth $29,000. Community Bank N.A. acquired a new stake in shares of Ferrari during the 3rd quarter worth $33,000. Entrust Financial LLC acquired a new stake in shares of Ferrari during the 4th quarter worth $33,000. Bellevue Asset Management LLC acquired a new stake in shares of Ferrari during the 1st quarter worth $34,000. Finally, Bamco Inc. NY increased its holdings in shares of Ferrari by 790.9% during the 4th quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after buying an additional 87 shares during the last quarter.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.