Ferrari (NYSE:RACE) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Ferrari (NYSE:RACE) from a hold rating to a buy rating in a report issued on Monday morning.

Several other equities analysts have also recently commented on the stock. Sanford C. Bernstein raised their price target on shares of Ferrari from $448.00 to $512.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Barclays upgraded Ferrari from an equal weight rating to an overweight rating in a report on Friday, August 2nd. UBS Group lifted their price objective on Ferrari from $448.00 to $478.00 and gave the company a buy rating in a research note on Monday, June 24th. Evercore ISI upped their target price on shares of Ferrari from $430.00 to $465.00 and gave the stock an outperform rating in a research note on Monday, April 22nd. Finally, Bank of America boosted their price target on shares of Ferrari from $458.00 to $512.00 and gave the stock a buy rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $461.67.

Ferrari Stock Performance

RACE opened at $420.49 on Monday. The stock’s 50-day moving average price is $418.61 and its 200 day moving average price is $411.28. Ferrari has a 12-month low of $285.02 and a 12-month high of $442.80. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.18 and a quick ratio of 3.25.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.20%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm earned $1.99 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts expect that Ferrari will post 8.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC acquired a new position in Ferrari in the second quarter valued at $29,000. IAG Wealth Partners LLC acquired a new stake in shares of Ferrari in the 1st quarter valued at about $33,000. Register Financial Advisors LLC purchased a new stake in Ferrari in the first quarter valued at approximately $33,000. Valley Wealth Managers Inc. acquired a new stake in Ferrari during the 2nd quarter worth $33,000. Finally, Denver PWM LLC acquired a new position in Ferrari in the second quarter valued at $35,000.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.