Ferrari N.V. (NYSE:RACE) Given Consensus Rating of “Buy” by Analysts

Ferrari N.V. (NYSE:RACE) has been given a consensus rating of “Buy” by the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $499.1250.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Berenberg Bank set a $570.00 target price on Ferrari in a research note on Friday, October 3rd. UBS Group reissued a “buy” rating and issued a $563.00 price target on shares of Ferrari in a report on Friday, November 28th. Hsbc Global Res upgraded shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Finally, HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price objective for the company in a research report on Thursday, October 2nd.

Ferrari Trading Up 1.9%

Shares of NYSE:RACE opened at $393.82 on Friday. The company has a market capitalization of $95.46 billion, a PE ratio of 39.78, a P/E/G ratio of 4.09 and a beta of 1.01. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76. Ferrari has a 12-month low of $372.31 and a 12-month high of $519.10. The business’s fifty day simple moving average is $415.53 and its 200-day simple moving average is $456.64.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.15. Ferrari had a return on equity of 44.20% and a net margin of 22.65%.The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ferrari has set its FY 2025 guidance at 10.290- EPS. As a group, equities research analysts predict that Ferrari will post 9.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ferrari

Several hedge funds have recently made changes to their positions in the company. Callan Family Office LLC lifted its stake in Ferrari by 58.5% during the 2nd quarter. Callan Family Office LLC now owns 4,378 shares of the company’s stock valued at $2,148,000 after acquiring an additional 1,615 shares during the period. TD Asset Management Inc raised its holdings in shares of Ferrari by 1.1% during the second quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock worth $203,677,000 after purchasing an additional 4,434 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Ferrari by 26.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,599 shares of the company’s stock valued at $5,205,000 after purchasing an additional 2,220 shares during the period. Rheos Capital Works Inc. boosted its holdings in Ferrari by 14.1% in the second quarter. Rheos Capital Works Inc. now owns 161,700 shares of the company’s stock valued at $79,353,000 after purchasing an additional 20,000 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Ferrari during the 2nd quarter worth about $640,000.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.