Ferrari N.V. (RACE) Price Target Raised to $105.00 at Evercore ISI
Ferrari N.V. (NYSE:RACE) had its price target increased by Evercore ISI from $46.00 to $105.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential downside of 8.29% from the company’s current price.
Other equities analysts have also issued reports about the company. Jefferies Group LLC set a $96.00 price target on Ferrari N.V. and gave the stock a “buy” rating in a research report on Saturday, May 6th. UBS AG reissued a “buy” rating and set a $125.00 price target (up from $100.00) on shares of Ferrari N.V. in a research report on Thursday, August 3rd. Zacks Investment Research raised Ferrari N.V. from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a research report on Wednesday, May 10th. Kepler Capital Markets reissued a “hold” rating on shares of Ferrari N.V. in a research report on Monday, May 15th. Finally, Bank of America Corporation boosted their price target on Ferrari N.V. from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $93.57.
Ferrari N.V. (NYSE RACE) traded up 2.17% during mid-day trading on Friday, hitting $116.98. 485,889 shares of the company were exchanged. Ferrari N.V. has a 12 month low of $46.39 and a 12 month high of $117.00. The stock has a market cap of $22.10 billion, a price-to-earnings ratio of 39.16 and a beta of 1.82. The firm has a 50 day moving average price of $107.28 and a 200 day moving average price of $85.31.
Ferrari N.V. (NYSE:RACE) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. The firm had revenue of $1.01 billion for the quarter. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. Analysts anticipate that Ferrari N.V. will post $3.11 EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Navellier & Associates Inc increased its stake in Ferrari N.V. by 16.5% in the second quarter. Navellier & Associates Inc now owns 10,745 shares of the company’s stock valued at $924,000 after buying an additional 1,523 shares in the last quarter. Cookson Peirce & Co. Inc. increased its stake in Ferrari N.V. by 5.7% in the second quarter. Cookson Peirce & Co. Inc. now owns 5,010 shares of the company’s stock valued at $431,000 after buying an additional 270 shares in the last quarter. Koch Industries Inc. acquired a new stake in Ferrari N.V. during the second quarter valued at about $242,000. National Asset Management Inc. acquired a new stake in Ferrari N.V. during the second quarter valued at about $238,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Ferrari N.V. by 2.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,568 shares of the company’s stock valued at $907,000 after buying an additional 267 shares in the last quarter. Institutional investors own 29.78% of the company’s stock.
Ferrari N.V. Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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