Ferrari NV (NYSE:RACE) has been assigned an average recommendation of “Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $142.50.

Several equities analysts recently issued reports on RACE shares. Credit Suisse Group lifted their price objective on shares of Ferrari from $156.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, September 20th. Zacks Investment Research lowered shares of Ferrari from a “strong-buy” rating to a “sell” rating in a report on Wednesday, July 4th. ValuEngine raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Morgan Stanley raised shares of Ferrari from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $110.00 to $120.00 in a report on Thursday, August 2nd. Finally, HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RACE. Financial Gravity Wealth Inc. acquired a new stake in shares of Ferrari during the first quarter worth $131,000. Nisa Investment Advisors LLC acquired a new stake in shares of Ferrari during the second quarter worth $155,000. Sfmg LLC acquired a new stake in shares of Ferrari during the second quarter worth $214,000. Opera Trading Capital acquired a new stake in shares of Ferrari during the second quarter worth $247,000. Finally, Sapphire Star Partners LP acquired a new stake in shares of Ferrari during the first quarter worth $240,000. 34.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of RACE stock opened at $139.00 on Friday. The company has a market cap of $25.98 billion, a P/E ratio of 43.57, a price-to-earnings-growth ratio of 2.17 and a beta of 1.21. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.71 and a current ratio of 3.36. Ferrari has a 52-week low of $103.65 and a 52-week high of $149.85.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.10. The company had revenue of $906.00 million for the quarter, compared to analyst estimates of $925.46 million. Ferrari had a net margin of 17.18% and a return on equity of 72.38%. Ferrari’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. sell-side analysts anticipate that Ferrari will post 3.66 earnings per share for the current fiscal year.

Ferrari Company Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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