Ferrari (NYSE:RACE – Get Rating) had its price target lifted by stock analysts at UBS Group from $274.00 to $330.00 in a research note issued to investors on Friday, The Fly reports. UBS Group's price target indicates a potential upside of 24.30% from the stock's current price.
Several other research analysts have also weighed in on the stock. Morgan Stanley lowered their price objective on shares of Ferrari from $300.00 to $280.00 and set an "overweight" rating on the stock in a research note on Thursday, November 3rd. HSBC upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Thursday, October 27th. Royal Bank of Canada upped their price target on shares of Ferrari from €261.00 ($283.70) to €265.00 ($288.04) in a research note on Monday, December 12th. Credit Suisse Group upped their price target on shares of Ferrari from $290.00 to $310.00 in a research note on Friday. Finally, StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, January 20th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $250.06.Get Ferrari alerts:
Ferrari Stock Up 4.8 %
Ferrari stock opened at $265.48 on Friday. The company's 50-day moving average is $226.72 and its 200-day moving average is $209.07. Ferrari has a fifty-two week low of $167.45 and a fifty-two week high of $270.35. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.74 and a current ratio of 4.47.Ferrari (NYSE:RACE – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.10. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.15 billion. Ferrari had a net margin of 19.00% and a return on equity of 40.02%. On average, analysts anticipate that Ferrari will post 5.26 EPS for the current fiscal year.
Institutional Trading of Ferrari
A number of institutional investors and hedge funds have recently made changes to their positions in RACE. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Ferrari by 5.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,125 shares of the company's stock worth $900,000 after acquiring an additional 220 shares during the period. Private Advisor Group LLC lifted its stake in Ferrari by 54.8% in the 1st quarter. Private Advisor Group LLC now owns 1,553 shares of the company's stock valued at $339,000 after purchasing an additional 550 shares during the last quarter. BlackRock Inc. lifted its stake in Ferrari by 3.3% in the 1st quarter. BlackRock Inc. now owns 1,066,538 shares of the company's stock valued at $232,602,000 after purchasing an additional 33,643 shares during the last quarter. Cibc World Market Inc. lifted its stake in Ferrari by 143.3% in the 1st quarter. Cibc World Market Inc. now owns 6,983 shares of the company's stock valued at $1,523,000 after purchasing an additional 4,113 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Ferrari by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 67,953 shares of the company's stock valued at $14,820,000 after purchasing an additional 5,286 shares during the last quarter. Institutional investors own 32.21% of the company's stock.
Ferrari Company Profile
Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The firm's models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari, and the FF four-wheel drive. It participates in car racing such as Formula One.
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