Analysts Set Ferrari (NYSE:RACE) Target Price at $413.86

Shares of Ferrari (NYSE:RACE) have earned an average recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $413.86.

Several equities research analysts have recently commented on RACE shares. Evercore ISI lifted their target price on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $400.00 price target on shares of Ferrari in a research note on Monday, April 22nd. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. UBS Group increased their price target on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th.

Hedge Funds Weigh In On Ferrari

Large investors have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. bought a new position in Ferrari during the 4th quarter worth about $27,000. IAG Wealth Partners LLC bought a new position in Ferrari during the 1st quarter worth about $33,000. Register Financial Advisors LLC bought a new position in Ferrari during the 1st quarter worth about $33,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after purchasing an additional 80 shares during the period. Finally, Blue Trust Inc. grew its holdings in Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares during the period.

Ferrari Price Performance

NYSE RACE opened at $430.29 on Friday. The stock’s 50 day simple moving average is $422.25 and its 200 day simple moving average is $375.90. Ferrari has a one year low of $283.20 and a one year high of $442.80. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91.

Ferrari (NYSE:RACE) last announced its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Sell-side analysts anticipate that Ferrari will post 8.31 EPS for the current fiscal year.

Ferrari Announces Dividend

The company also recently announced an annual dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were issued a dividend of $2.443 per share. This represents a yield of 0.62%. The ex-dividend date of this dividend was Monday, April 22nd.

About Ferrari

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.