Analysts Set Ferrari N.V. (NYSE:RACE) PT at $477.15

Shares of Ferrari N.V. (NYSE:RACE) have been given an average rating of “Moderate Buy” by the eighteen analysts that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $477.1518.

A number of equities analysts recently commented on RACE shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Citigroup reaffirmed a “neutral” rating on shares of Ferrari in a research note on Monday, August 3rd. UBS Group decreased their price objective on Ferrari from $497.00 to $490.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Morgan Stanley reissued an “overweight” rating and issued a $442.00 target price on shares of Ferrari in a research note on Friday, July 31st. Finally, Needham & Company LLC upgraded Ferrari to a “neutral” rating in a report on Friday, July 31st.

Ferrari Price Performance

RACE opened at $409.90 on Monday. Ferrari has a 12-month low of $312.51 and a 12-month high of $504.49. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average price of $396.45 and a 200-day moving average price of $364.60. The stock has a market capitalization of $95.90 billion, a P/E ratio of 38.06, a PEG ratio of 3.52 and a beta of 0.92.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.83 by $0.16. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm posted $2.38 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. Equities analysts predict that Ferrari will post 11.18 earnings per share for the current fiscal year.

Ferrari News Roundup

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Brokerages have assigned Ferrari a consensus price target of $477.15, suggesting meaningful potential upside from recent trading levels and continued confidence in the company’s earnings outlook. Ferrari N.V. Receives $477.15 Consensus Target Price from Brokerages
• Positive Sentiment: Ferrari remains positioned to influence the World Endurance Championship title race, providing additional global exposure for the brand and reinforcing its motorsport credentials. Ferrari poised to play spoiler as WEC title race heats up
• Neutral Sentiment: Coverage of Ferrari’s F8 competing against a Porsche 992 Turbo S highlights the performance appeal of its products, though the informal drag race is unlikely to have a material financial impact. Ferrari F8 faces Porsche 992 Turbo S in drag race
• Neutral Sentiment: Ferrari’s Monza starting lineup and reports of relief despite missing pole provide visibility at the company’s home race, but offer limited direct information about Ferrari N.V.’s financial performance. Formula 1 starting lineup for race in Monza Ferrari at the Monza home race
• Negative Sentiment: Charles Leclerc’s heavy crash and retirement from the Italian Grand Prix produced unfavorable headlines and spoiled Ferrari’s home-race result, potentially weakening near-term brand and team sentiment. Charles Leclerc out of Italian Grand Prix after crash Ferrari catastrophic start at home race
• Negative Sentiment: Commentary describing Ferrari’s “vintage disaster-class” and Lewis Hamilton’s frustration reinforces concerns about execution and competitiveness, adding to the negative F1 narrative. Ferrari’s vintage disaster-class at Italian GP Lewis Hamilton frustration explained

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RACE. Fideuram Asset Management Ireland dac bought a new stake in Ferrari in the 4th quarter worth $29,000. Entrust Financial LLC bought a new position in shares of Ferrari during the fourth quarter valued at about $33,000. Bellevue Asset Management LLC purchased a new stake in shares of Ferrari during the first quarter worth about $34,000. Bamco Inc. NY boosted its holdings in shares of Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after purchasing an additional 87 shares during the period. Finally, Dunhill Financial LLC bought a new stake in shares of Ferrari in the second quarter worth about $38,000.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.