Ferrari (RACE) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Ferrari (NYSE:RACE) from a hold rating to a buy rating in a report issued on Monday, April 1st, ValuEngine reports.

RACE has been the topic of several other research reports. Zacks Investment Research raised shares of Ferrari from a sell rating to a hold rating and set a $146.00 target price on the stock in a research note on Saturday, February 2nd. Sanford C. Bernstein raised shares of Ferrari from an underperform rating to a market perform rating and set a $112.29 price objective on the stock in a research note on Tuesday, January 15th. Finally, Credit Suisse Group reduced their price objective on shares of Ferrari from $160.00 to $140.00 and set an outperform rating on the stock in a research note on Monday, January 28th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $133.66.

Shares of RACE stock traded down $2.48 during mid-day trading on Monday, reaching $136.48. The company’s stock had a trading volume of 447,078 shares, compared to its average volume of 385,402. Ferrari has a 1-year low of $93.85 and a 1-year high of $149.85. The stock has a market cap of $26.26 billion, a price-to-earnings ratio of 33.95, a P/E/G ratio of 1.87 and a beta of 1.57. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.15 and a current ratio of 3.75.

Ferrari (NYSE:RACE) last announced its earnings results on Thursday, January 31st. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. Ferrari had a net margin of 22.91% and a return on equity of 58.04%. The business had revenue of $964.27 million during the quarter, compared to analysts’ expectations of $967.04 million. On average, sell-side analysts predict that Ferrari will post 4.05 earnings per share for the current year.

The business also recently announced an annual dividend, which will be paid on Thursday, May 2nd. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.1677 per share. This is an increase from Ferrari’s previous annual dividend of $0.88. This represents a yield of 0.91%. The ex-dividend date is Tuesday, April 23rd.

Hedge funds have recently made changes to their positions in the business. Ellis Investment Partners LLC acquired a new stake in shares of Ferrari in the first quarter valued at approximately $27,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Ferrari by 36.3% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 398 shares of the company’s stock valued at $40,000 after purchasing an additional 106 shares during the last quarter. Quad Cities Investment Group LLC acquired a new stake in shares of Ferrari in the fourth quarter valued at approximately $50,000. Neuburgh Advisers LLC raised its holdings in shares of Ferrari by 1,300.0% in the fourth quarter. Neuburgh Advisers LLC now owns 924 shares of the company’s stock valued at $92,000 after purchasing an additional 858 shares during the last quarter. Finally, Lindbrook Capital LLC acquired a new stake in shares of Ferrari in the fourth quarter valued at approximately $94,000. Hedge funds and other institutional investors own 34.96% of the company’s stock.

About Ferrari

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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