Ferrari (NYSE:RACE) Earns “Overweight” Rating from Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Ferrari (NYSE:RACE) in a research report released on Monday, Benzinga reports. They currently have a $400.00 price target on the stock.

RACE has been the subject of several other research reports. Evercore ISI upped their price target on Ferrari from $430.00 to $465.00 and gave the stock an outperform rating in a research note on Monday. Barclays cut Ferrari from an overweight rating to an equal weight rating in a research note on Thursday, April 4th. UBS Group upped their price target on Ferrari from $413.00 to $448.00 and gave the stock a buy rating in a research note on Friday, February 2nd. StockNews.com upgraded Ferrari from a hold rating to a buy rating in a research note on Friday, March 22nd. Finally, Citigroup cut Ferrari from a neutral rating to a sell rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $413.86.

Ferrari Trading Down 1.9 %

Shares of NYSE RACE opened at $412.19 on Monday. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81. Ferrari has a twelve month low of $273.39 and a twelve month high of $442.80. The stock has a 50 day moving average of $419.59 and a two-hundred day moving average of $370.21.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. On average, research analysts expect that Ferrari will post 8.31 EPS for the current fiscal year.

Ferrari Dividend Announcement

The firm also recently disclosed an annual dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be given a $2.443 dividend. This represents a yield of 0.62%. The ex-dividend date is Monday, April 22nd.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Mesirow Financial Investment Management Inc. acquired a new stake in Ferrari in the first quarter valued at $566,000. Strategy Asset Managers LLC acquired a new stake in Ferrari in the first quarter valued at $233,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ferrari by 7.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,777 shares of the company’s stock valued at $33,936,000 after purchasing an additional 5,141 shares during the last quarter. IAG Wealth Partners LLC acquired a new stake in Ferrari in the first quarter valued at $33,000. Finally, Elite Wealth Management Inc. grew its holdings in Ferrari by 6.4% in the first quarter. Elite Wealth Management Inc. now owns 2,409 shares of the company’s stock valued at $1,050,000 after purchasing an additional 145 shares during the last quarter.

Ferrari Company Profile

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.