Ferrari (NYSE:RACE) Lowered to Hold Rating by Hsbc Global Res

Ferrari (NYSE:RACE) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. The Goldman Sachs Group upgraded Ferrari to a “strong-buy” rating in a report on Monday, November 24th. Evercore ISI decreased their price objective on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Zacks Research lowered shares of Ferrari from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Loop Capital set a $481.67 price target on shares of Ferrari in a research note on Thursday, December 4th. Finally, Oddo Bhf lowered Ferrari to a “neutral” rating in a research report on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $480.67.

Ferrari Price Performance

RACE stock opened at $362.47 on Tuesday. The stock has a market capitalization of $87.85 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 4.02 and a beta of 1.01. The firm’s 50-day moving average price is $384.15 and its two-hundred day moving average price is $435.39. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76. Ferrari has a 12-month low of $356.93 and a 12-month high of $519.10.

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

Institutional Investors Weigh In On Ferrari

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its holdings in Ferrari by 24,598.5% in the second quarter. Groupama Asset Managment now owns 16,073,800 shares of the company’s stock worth $7,888,057,000 after buying an additional 16,008,720 shares during the period. Norges Bank purchased a new stake in shares of Ferrari during the 2nd quarter valued at about $885,051,000. Bank of New York Mellon Corp increased its position in Ferrari by 63.7% during the third quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock valued at $1,295,907,000 after acquiring an additional 1,039,234 shares during the last quarter. Viking Global Investors LP boosted its position in Ferrari by 432.7% in the second quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock worth $353,526,000 after purchasing an additional 585,872 shares during the last quarter. Finally, Credit Agricole S A purchased a new stake in shares of Ferrari during the 3rd quarter valued at about $279,003,000.

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.