Ferrari (NYSE:RACE) Price Target Raised to $513.00 at UBS Group

Ferrari (NYSE:RACE) had its price target boosted by UBS Group from $478.00 to $513.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on RACE. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their target price on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Finally, Evercore ISI boosted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Performance

Shares of NYSE RACE traded up $9.43 during midday trading on Wednesday, reaching $452.43. The company’s stock had a trading volume of 174,129 shares, compared to its average volume of 280,281. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average price of $472.17 and a 200 day moving average price of $440.93. Ferrari has a one year low of $330.15 and a one year high of $498.23.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts expect that Ferrari will post 8.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Ferrari

Several large investors have recently made changes to their positions in RACE. International Assets Investment Management LLC grew its holdings in Ferrari by 47,023.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after acquiring an additional 1,178,410 shares during the last quarter. Capital International Investors grew its holdings in Ferrari by 314.3% during the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after acquiring an additional 791,596 shares during the last quarter. Marshall Wace LLP grew its holdings in Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after acquiring an additional 461,409 shares during the last quarter. Clearbridge Investments LLC lifted its position in Ferrari by 6,024.9% during the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock valued at $166,054,000 after purchasing an additional 374,691 shares during the period. Finally, Capital World Investors lifted its position in Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after purchasing an additional 245,872 shares during the period.

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.