Analysts Set Ferrari N.V. (NYSE:RACE) Price Target at $477.15

Shares of Ferrari N.V. (NYSE:RACE) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $477.1518.

Several research analysts have recently issued reports on RACE shares. Wolfe Research assumed coverage on shares of Ferrari in a report on Tuesday, July 7th. They issued an “outperform” rating on the stock. Needham & Company LLC raised shares of Ferrari to a “neutral” rating in a research report on Friday, July 31st. Sanford C. Bernstein increased their price target on shares of Ferrari from $402.00 to $460.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. UBS Group decreased their price objective on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Finally, Evercore reaffirmed an “outperform” rating and set a $485.00 price objective on shares of Ferrari in a research note on Friday, July 31st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fideuram Asset Management Ireland dac purchased a new position in shares of Ferrari during the fourth quarter valued at approximately $29,000. Entrust Financial LLC purchased a new stake in Ferrari in the fourth quarter worth $33,000. Bamco Inc. NY lifted its stake in Ferrari by 790.9% in the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after acquiring an additional 87 shares during the period. Bellevue Asset Management LLC bought a new stake in Ferrari in the first quarter valued at $34,000. Finally, Dunhill Financial LLC bought a new stake in Ferrari in the second quarter valued at $38,000.

Ferrari Stock Performance

Shares of RACE stock opened at $406.55 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85. Ferrari has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The stock has a 50 day moving average price of $375.25 and a two-hundred day moving average price of $356.24. The company has a market capitalization of $95.11 billion, a P/E ratio of 37.74, a PEG ratio of 3.53 and a beta of 0.91.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.