Ferrari (NYSE:RACE) Earns Buy Rating from Analysts at Berenberg Bank

Berenberg Bank assumed coverage on shares of Ferrari (NYSE:RACE) in a research note published on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Zacks Research lowered shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. Citigroup reiterated a “sell” rating on shares of Ferrari in a research note on Monday, August 11th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a report on Monday, August 4th. Cfra Research downgraded Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Finally, UBS Group lifted their price target on Ferrari from $540.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $531.67.

Ferrari Price Performance

RACE stock opened at $484.56 on Tuesday. The business has a 50 day moving average price of $477.36 and a 200 day moving average price of $466.51. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The stock has a market cap of $117.45 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 5.36 and a beta of 1.10. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $519.10.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities research analysts anticipate that Ferrari will post 9.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. GW&K Investment Management LLC raised its stake in shares of Ferrari by 288.9% during the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after purchasing an additional 52 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Ferrari in the 2nd quarter valued at $30,000. Park Square Financial Group LLC purchased a new position in Ferrari during the 4th quarter worth $32,000. Alpine Bank Wealth Management acquired a new stake in shares of Ferrari in the 1st quarter worth $33,000. Finally, Brooklyn Investment Group boosted its holdings in shares of Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after acquiring an additional 61 shares in the last quarter.

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.