Ferrari (NYSE:RACE) had its target price upped by UBS Group from $209.00 to $212.00 in a research report released on Wednesday, Analyst Ratings Network reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on RACE. Royal Bank of Canada initiated coverage on shares of Ferrari in a research report on Wednesday, July 8th. They issued an outperform rating on the stock. Zacks Investment Research downgraded shares of Ferrari from a strong-buy rating to a hold rating in a research report on Saturday, August 15th. Kepler Capital Markets upgraded shares of Ferrari to a buy rating in a research report on Thursday, June 18th. Sanford C. Bernstein started coverage on shares of Ferrari in a research report on Tuesday, September 8th. They issued an underperform rating on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ferrari from $133.00 to $145.00 and gave the stock a neutral rating in a report on Friday, June 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $197.50.

NYSE RACE opened at $192.52 on Wednesday. Ferrari has a 12 month low of $127.73 and a 12 month high of $199.97. The company has a debt-to-equity ratio of 2.05, a current ratio of 4.69 and a quick ratio of 3.97. The company has a market capitalization of $35.67 billion, a price-to-earnings ratio of 63.54, a price-to-earnings-growth ratio of 5.33 and a beta of 0.91. The company’s fifty day moving average price is $187.23 and its two-hundred day moving average price is $173.83.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.02). Ferrari had a return on equity of 35.34% and a net margin of 15.26%. The business had revenue of $571.00 million during the quarter, compared to the consensus estimate of $583.79 million. During the same quarter in the previous year, the business posted $0.96 earnings per share. The company’s quarterly revenue was down 42.0% compared to the same quarter last year. As a group, analysts anticipate that Ferrari will post 3.14 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in RACE. Principal Financial Group Inc. acquired a new position in Ferrari during the 1st quarter valued at about $229,000. Silvercrest Asset Management Group LLC acquired a new position in Ferrari during the 1st quarter valued at about $3,934,000. Cipher Capital LP acquired a new position in Ferrari during the 1st quarter valued at about $412,000. Balyasny Asset Management LLC acquired a new position in Ferrari during the 1st quarter valued at about $5,484,000. Finally, Morgan Stanley increased its stake in Ferrari by 13.5% during the 1st quarter. Morgan Stanley now owns 883,664 shares of the company’s stock valued at $134,819,000 after buying an additional 105,417 shares during the period. 32.28% of the stock is currently owned by hedge funds and other institutional investors.

About Ferrari

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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