Ferrari (NYSE:RACE) Lowered to Strong Sell Rating by Zacks Research

Ferrari (NYSE:RACE) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Oddo Bhf lowered Ferrari to a “neutral” rating in a report on Wednesday, December 10th. The Goldman Sachs Group upgraded shares of Ferrari to a “strong-buy” rating in a research report on Monday, November 24th. BNP Paribas upgraded shares of Ferrari to a “strong-buy” rating in a research report on Thursday, December 11th. Hsbc Global Res upgraded shares of Ferrari from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Finally, Loop Capital set a $481.67 target price on shares of Ferrari in a report on Thursday, December 4th. Four investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $489.47.

Ferrari Price Performance

Shares of NYSE:RACE opened at $372.22 on Thursday. Ferrari has a one year low of $356.93 and a one year high of $519.10. The stock has a market capitalization of $90.22 billion, a price-to-earnings ratio of 37.60, a PEG ratio of 3.93 and a beta of 1.01. The company has a 50-day simple moving average of $387.94 and a 200-day simple moving average of $440.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.78 and a current ratio of 4.90.

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

Institutional Trading of Ferrari

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mather Group LLC. acquired a new position in Ferrari during the third quarter worth about $27,000. Westside Investment Management Inc. boosted its stake in shares of Ferrari by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Ferrari in the 3rd quarter worth approximately $28,000. Newbridge Financial Services Group Inc. purchased a new position in Ferrari in the 2nd quarter valued at approximately $30,000. Finally, Community Bank N.A. acquired a new position in Ferrari during the third quarter worth $33,000.

Ferrari Company Profile

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.