Ferrari (NYSE:RACE) Upgraded at StockNews.com
Ferrari (NYSE:RACE – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.
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Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada upped their price objective on shares of Ferrari from €261.00 ($283.70) to €265.00 ($288.04) in a research report on Monday, December 12th. Morgan Stanley cut their price target on shares of Ferrari from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, November 3rd. HSBC raised Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, October 27th. Finally, Citigroup raised Ferrari from a “sell” rating to a “neutral” rating and set a $230.60 target price for the company in a research note on Monday, January 9th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.56.
Ferrari Stock Performance
RACE stock traded up $4.39 during trading on Friday, hitting $242.38. The company had a trading volume of 311,055 shares, compared to its average volume of 355,651. The firm has a 50-day moving average price of $221.31 and a 200-day moving average price of $205.74. The company has a quick ratio of 3.74, a current ratio of 4.47 and a debt-to-equity ratio of 1.21. The firm has a market cap of $44.78 billion, a PE ratio of 44.31, a price-to-earnings-growth ratio of 3.38 and a beta of 0.97. Ferrari has a 1-year low of $167.45 and a 1-year high of $242.64.
Ferrari (NYSE:RACE – Get Rating) last released its earnings results on Wednesday, November 2nd. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.10. Ferrari had a return on equity of 40.02% and a net margin of 19.00%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, analysts expect that Ferrari will post 5.08 earnings per share for the current year.
Institutional Investors Weigh In On Ferrari
Institutional investors have recently modified their holdings of the company. Ronald Blue Trust Inc. increased its stake in Ferrari by 348.4% in the 4th quarter. Ronald Blue Trust Inc. now owns 139 shares of the company’s stock valued at $26,000 after purchasing an additional 108 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Ferrari by 47.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 149 shares of the company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Ferrari by 112.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 181 shares of the company’s stock worth $33,000 after buying an additional 96 shares during the last quarter. Trustcore Financial Services LLC purchased a new stake in shares of Ferrari in the 3rd quarter worth about $33,000. Finally, Crewe Advisors LLC acquired a new stake in Ferrari in the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 32.21% of the company’s stock.
Ferrari Company Profile
(Get Rating)
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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