Ferrari (NYSE:RACE) PT Raised to $512.00

Ferrari (NYSE:RACE) had its target price raised by investment analysts at Sanford C. Bernstein from $448.00 to $512.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective indicates a potential upside of 25.29% from the stock’s previous close.

RACE has been the topic of a number of other research reports. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. UBS Group upped their price objective on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Bank of America upped their price objective on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Ferrari has an average rating of “Hold” and a consensus target price of $393.86.

Ferrari Stock Down 1.0 %

NYSE:RACE opened at $408.65 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. The stock’s fifty day moving average is $416.97 and its two-hundred day moving average is $366.96. Ferrari has a 52 week low of $272.70 and a 52 week high of $442.80.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping 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 business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. Research analysts predict that Ferrari will post 8.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Ferrari

Hedge funds have recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new position in shares of Ferrari during the first quarter worth about $33,000. Jamison Private Wealth Management Inc. purchased a new position in shares of Ferrari during the fourth quarter worth about $27,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Ferrari during the second quarter worth about $33,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of 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 buying an additional 80 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after buying an additional 30 shares during the period.

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.