Ferrari (NYSE:RACE) Receives Average Recommendation of “Hold” from Analysts

Shares of Ferrari (NYSE:RACEGet Free Report) have received an average recommendation of “Hold” from the ten brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $456.67.

A number of research analysts have issued reports on RACE shares. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI raised their price target on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Bank of America raised their price target on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Finally, Jefferies Financial Group began coverage on shares of Ferrari in a research note on Friday, May 10th. They issued a “hold” rating and a $403.00 price target on the stock.

View Our Latest Stock Analysis on RACE

Ferrari Price Performance

Shares of RACE opened at $411.00 on Tuesday. The company has a 50 day moving average of $418.08 and a two-hundred day moving average of $388.80. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. Ferrari has a twelve month low of $283.20 and a twelve month high of $442.80. The company has a market cap of $75.93 billion, a price-to-earnings ratio of 52.49, a price-to-earnings-growth ratio of 4.96 and a beta of 0.98.

Ferrari (NYSE:RACEGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. As a group, analysts predict that Ferrari will post 8.2 earnings per share for the current fiscal year.

Ferrari Dividend Announcement

The company also recently declared an annual dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were given a dividend of $2.443 per share. This represents a dividend yield of 0.62%. The ex-dividend date was Monday, April 22nd. Ferrari’s payout ratio is presently 6.58%.

Hedge Funds Weigh In On Ferrari

Several large investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its stake in Ferrari by 1.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,247 shares of the company’s stock worth $1,437,000 after purchasing an additional 40 shares in the last quarter. Vanguard Group Inc. raised its position in Ferrari by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock valued at $1,312,614,000 after purchasing an additional 61,132 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Ferrari by 12.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock worth $632,000 after buying an additional 230 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Ferrari during the third quarter worth approximately $157,620,000. Finally, Kestra Advisory Services LLC raised its holdings in shares of Ferrari by 15.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,128 shares of the company’s stock valued at $924,000 after purchasing an additional 422 shares in the last quarter.

Ferrari Company Profile

(Get Free Report

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.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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