Ferrari N.V. (NYSE:RACE) Receives $489.47 Average PT from Brokerages

Shares of Ferrari N.V. (NYSE:RACE) have been assigned a consensus recommendation of “Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, ten have given a buy rating and four have assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $489.4670.

RACE has been the topic of several research reports. Evercore ISI decreased their price target on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. The Goldman Sachs Group upgraded shares of Ferrari to a “strong-buy” rating in a research report on Monday, November 24th. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Finally, Citigroup lowered their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research note on Thursday, October 16th.

Ferrari Trading Up 0.5%

Shares of RACE stock opened at $378.16 on Wednesday. The company has a quick ratio of 3.78, a current ratio of 4.90 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $390.86 and a two-hundred day moving average price of $444.10. Ferrari has a 12-month low of $356.93 and a 12-month high of $519.10. The firm has a market cap of $91.66 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 4.14 and a beta of 1.01.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.50 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 analyst estimates 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. Equities analysts anticipate that Ferrari will post 9.22 EPS for the current fiscal year.

Institutional Trading of Ferrari

A number of institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Ferrari by 12.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,362 shares of the company’s stock valued at $4,862,000 after buying an additional 1,223 shares during the last quarter. Summit Financial LLC purchased a new position in shares of Ferrari in the first quarter valued at about $228,000. CW Advisors LLC bought a new position in shares of Ferrari during the first quarter valued at about $423,000. Smartleaf Asset Management LLC boosted its holdings in shares of Ferrari by 23.7% during the first quarter. Smartleaf Asset Management LLC now owns 532 shares of the company’s stock worth $229,000 after purchasing an additional 102 shares during the period. Finally, ICONIQ Capital LLC grew its stake in shares of Ferrari by 40.0% in the first quarter. ICONIQ Capital LLC now owns 725 shares of the company’s stock worth $310,000 after purchasing an additional 207 shares during the last quarter.

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.