Ferrari (NYSE:RACE) had its price target raised by research analysts at Morgan Stanley from $100.00 to $105.00 in a research report issued on Wednesday. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 15.17% from the company’s current price.

Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Ferrari from a “buy” rating to a “sell” rating in a report on Thursday, February 8th. HSBC assumed coverage on Ferrari in a report on Monday, December 11th. They issued a “hold” rating for the company. Jefferies Group upped their target price on Ferrari to $130.00 and gave the company a “buy” rating in a report on Friday, December 8th. BidaskClub lowered Ferrari from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Finally, TheStreet raised Ferrari from a “c” rating to a “b-” rating in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $118.57.

Ferrari (NYSE RACE) opened at $123.77 on Wednesday. The stock has a market capitalization of $23,160.00 and a P/E ratio of 38.42. The company has a quick ratio of 2.68, a current ratio of 3.26 and a debt-to-equity ratio of 2.77. Ferrari has a twelve month low of $64.76 and a twelve month high of $130.63.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, February 1st. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.03). The business had revenue of $840.00 million during the quarter, compared to the consensus estimate of $869.74 million. Ferrari had a net margin of 15.74% and a return on equity of 98.82%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. analysts anticipate that Ferrari will post 3.59 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rehmann Capital Advisory Group bought a new position in Ferrari during the third quarter valued at $263,000. Comerica Bank grew its holdings in Ferrari by 18.5% during the third quarter. Comerica Bank now owns 12,040 shares of the company’s stock valued at $1,411,000 after purchasing an additional 1,880 shares during the period. Sei Investments Co. grew its holdings in Ferrari by 1,401.8% during the third quarter. Sei Investments Co. now owns 95,937 shares of the company’s stock valued at $10,599,000 after purchasing an additional 89,549 shares during the period. Cavalier Investments LLC grew its holdings in Ferrari by 35.7% during the third quarter. Cavalier Investments LLC now owns 11,400 shares of the company’s stock valued at $1,259,000 after purchasing an additional 3,000 shares during the period. Finally, Royal Bank of Canada grew its holdings in Ferrari by 142.2% during the second quarter. Royal Bank of Canada now owns 10,758 shares of the company’s stock valued at $925,000 after purchasing an additional 6,316 shares during the period. 31.93% of the stock is owned by institutional investors and hedge funds.

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About Ferrari

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.

Analyst Recommendations for Ferrari (NYSE:RACE)

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