Weiss Ratings Reaffirms “Buy (B)” Rating for Ferrari (NYSE:RACE)

Ferrari (NYSE:RACE)‘s stock had its “buy (b)” rating restated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Berenberg Bank set a $570.00 price target on Ferrari in a research note on Friday, October 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. UBS Group increased their price target on Ferrari from $570.00 to $579.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, Citigroup reaffirmed a “sell” rating on shares of Ferrari in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $528.80.

Ferrari Stock Down 15.0%

RACE opened at $407.20 on Wednesday. Ferrari has a 12 month low of $391.54 and a 12 month high of $519.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The stock has a market cap of $98.70 billion, a P/E ratio of 42.02, a P/E/G ratio of 3.86 and a beta of 1.08. The stock’s 50 day moving average price is $471.50 and its 200 day moving average price is $469.93.

Ferrari (NYSE:RACE) last posted its 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 firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, research analysts predict that Ferrari will post 9.22 earnings per share for the current year.

Institutional Investors Weigh In On Ferrari

Large investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. bought a new stake in shares of Ferrari during the 2nd quarter worth $30,000. GW&K Investment Management LLC boosted its position in shares of Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after buying an additional 52 shares during the period. Virtus Advisers LLC acquired a new stake in shares of Ferrari in the second quarter worth $34,000. GAMMA Investing LLC boosted its position in shares of Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after buying an additional 21 shares during the period. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Ferrari in the first quarter worth $33,000.

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.