Ferrari (NYSE:RACE) Given New $513.00 Price Target at UBS Group

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

RACE has been the subject of a number of other research reports. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $385.00 to $525.00 in a report on Friday, October 11th. Morgan Stanley increased their price target on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Evercore ISI lifted their price target 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. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Up 0.4 %

Shares of Ferrari stock opened at $454.46 on Wednesday. The company has a current ratio of 4.57, a quick ratio of 3.32 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23. The company has a market cap of $83.96 billion, a P/E ratio of 52.78, a PEG ratio of 4.69 and a beta of 0.99. The company’s fifty day simple moving average is $470.58 and its two-hundred day simple moving average is $441.32.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $1.98 EPS. Ferrari’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts anticipate that Ferrari will post 8.68 EPS for the current year.

Institutional Investors Weigh In On Ferrari

Institutional investors have recently made changes to their positions in the company. Jennison Associates LLC lifted its position in Ferrari by 910.1% in the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after acquiring an additional 2,636,869 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after purchasing an additional 1,178,410 shares in the last quarter. Capital International Investors boosted its position in shares of Ferrari by 314.3% during the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after buying an additional 791,596 shares during the last quarter. Marshall Wace LLP increased its holdings in Ferrari by 108.4% in the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after buying an additional 461,409 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Ferrari by 6,024.9% in the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock worth $166,054,000 after buying an additional 374,691 shares in the last quarter.

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.