According to Zacks, “Ferrari N.V. is engaged in designing, manufacturing and selling sports cars. Its products include sports car models consists of 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. The Company also produces a limited edition supercar, LaFerrari and limited series and one-off cars. It operates primarily in Europe, the Middle East, India, Africa, Americas, Greater China and Rest of Asia-Pacific region. Ferrari N.V. is headquartered in Maranello, Italy. “
A number of other equities research analysts also recently issued reports on RACE. Kepler Capital Markets upgraded Ferrari to a “buy” rating in a research report on Thursday, June 18th. CSFB decreased their price objective on Ferrari from $205.00 to $198.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. HSBC restated a “buy” rating on shares of Ferrari in a research report on Thursday, May 7th. UBS Group cut their target price on Ferrari from $180.00 to $176.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, Redburn Partners raised Ferrari from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $177.00.
NYSE:RACE opened at $173.05 on Tuesday. The company has a current ratio of 3.98, a quick ratio of 3.39 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $31.77 billion, a P/E ratio of 42.41, a P/E/G ratio of 4.91 and a beta of 0.92. Ferrari has a 12 month low of $127.73 and a 12 month high of $180.95. The business’s 50-day moving average is $165.00 and its 200 day moving average is $161.80.
Ferrari (NYSE:RACE) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.09. Ferrari had a return on equity of 47.13% and a net margin of 18.23%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $852.32 million. On average, research analysts forecast that Ferrari will post 3 earnings per share for the current year.
A number of large investors have recently made changes to their positions in RACE. Norges Bank bought a new position in Ferrari in the fourth quarter worth approximately $194,265,000. Third Point LLC grew its stake in Ferrari by 623.3% in the first quarter. Third Point LLC now owns 1,085,000 shares of the company’s stock worth $165,538,000 after purchasing an additional 935,000 shares in the last quarter. WCM Investment Management LLC bought a new position in Ferrari in the first quarter worth approximately $115,760,000. Credit Suisse AG grew its stake in Ferrari by 48.6% in the fourth quarter. Credit Suisse AG now owns 1,124,372 shares of the company’s stock worth $186,128,000 after purchasing an additional 367,918 shares in the last quarter. Finally, Pictet Asset Management Ltd. bought a new position in Ferrari in the fourth quarter worth approximately $53,498,000. 34.09% of the stock is currently owned by institutional investors.
Ferrari Company Profile
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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