Ferrari N.V. (RACE) Receives New Coverage from Analysts at Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) began coverage on shares of Ferrari N.V. (NYSE:RACE) in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $131.00 price target on the stock.
Other equities analysts also recently issued research reports about the company. UBS AG restated a buy rating and issued a $100.00 target price (up previously from $92.00) on shares of Ferrari N.V. in a research note on Tuesday, July 11th. Bank of America Corporation reiterated a buy rating and issued a $100.00 price objective (up previously from $90.00) on shares of Ferrari N.V. in a research note on Friday, June 16th. Berenberg Bank reiterated a buy rating on shares of Ferrari N.V. in a research note on Monday, August 14th. Zacks Investment Research upgraded Ferrari N.V. from a hold rating to a buy rating and set a $112.00 price objective on the stock in a research note on Saturday, July 22nd. Finally, Evercore ISI upped their price objective on Ferrari N.V. from $46.00 to $105.00 and gave the company an in-line rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $101.75.
Shares of Ferrari N.V. (NYSE RACE) opened at 110.05 on Wednesday. The stock has a 50 day moving average price of $111.25 and a 200-day moving average price of $88.58. Ferrari N.V. has a 52-week low of $47.26 and a 52-week high of $118.10. The firm has a market capitalization of $20.79 billion, a PE ratio of 36.84 and a beta of 1.78.
Ferrari N.V. (NYSE:RACE) last announced its earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. The firm had revenue of $1.01 billion for the quarter. Equities analysts forecast that Ferrari N.V. will post $3.24 EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new position in Ferrari N.V. in the first quarter valued at approximately $127,000. Aviance Capital Management LLC purchased a new stake in shares of Ferrari N.V. during the second quarter worth $130,000. PNC Financial Services Group Inc. lifted its position in shares of Ferrari N.V. by 48.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock worth $135,000 after acquiring an additional 586 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Ferrari N.V. by 1.2% during the second quarter. Quadrant Capital Group LLC now owns 1,976 shares of the company’s stock worth $162,000 after acquiring an additional 24 shares in the last quarter. Finally, Opera Trading Capital purchased a new stake in shares of Ferrari N.V. during the second quarter worth $172,000. Institutional investors and hedge funds own 29.78% of the company’s stock.
About Ferrari N.V.
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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