UBS Group Boosts Ferrari (NYSE:RACE) Price Target to $513.00

Ferrari (NYSE:RACE) had its price objective lifted by analysts at UBS Group from $478.00 to $513.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 13.23% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Morgan Stanley boosted their price objective on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Evercore ISI upped their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Price Performance

NYSE RACE opened at $453.05 on Wednesday. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23. The business’s 50-day simple moving average is $472.17 and its 200-day simple moving average is $440.93.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. Ferrari’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that Ferrari will post 8.65 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Ferrari by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after acquiring an additional 61,588 shares during the last quarter. Capital Research Global Investors increased its stake in Ferrari by 3.9% during the first quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock valued at $579,585,000 after purchasing an additional 49,367 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Ferrari by 2.4% during the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock worth $512,660,000 after purchasing an additional 30,014 shares during the period. International Assets Investment Management LLC lifted its position in shares of Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after buying an additional 1,178,410 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of Ferrari by 314.3% in the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after buying an additional 791,596 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.