Societe Generale upgraded shares of Ferrari (NYSE:RACE) from a sell rating to a hold rating in a research report released on Wednesday morning, Marketbeat reports. Societe Generale currently has $130.00 target price on the stock, up from their previous target price of $94.00.
Other equities analysts have also issued research reports about the company. ValuEngine upgraded Ferrari from a hold rating to a buy rating in a research note on Friday, August 3rd. HSBC upgraded Ferrari from a hold rating to a buy rating in a research note on Wednesday, August 29th. Morgan Stanley raised Ferrari from an underweight rating to an equal weight rating and raised their target price for the company from $110.00 to $120.00 in a report on Thursday, August 2nd. Zacks Investment Research raised Ferrari from a strong sell rating to a hold rating in a report on Tuesday, August 21st. Finally, Credit Suisse Group raised their target price on Ferrari from $156.00 to $160.00 and gave the company an outperform rating in a report on Thursday, September 20th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Ferrari has an average rating of Buy and a consensus price target of $145.67.
Get Ferrari alerts:Ferrari stock opened at $116.30 on Wednesday. Ferrari has a one year low of $103.65 and a one year high of $149.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.71 and a current ratio of 3.36. The firm has a market cap of $25.87 billion, a price-to-earnings ratio of 36.46, a P/E/G ratio of 2.16 and a beta of 1.19.
Ferrari (NYSE:RACE) last posted its quarterly earnings data on Wednesday, August 1st. The company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.10. Ferrari had a return on equity of 72.38% and a net margin of 17.18%. The firm had revenue of $906.00 million for the quarter, compared to analyst estimates of $925.46 million. During the same quarter last year, the company earned $0.72 EPS. The company’s revenue was down 1.5% on a year-over-year basis. Equities research analysts expect that Ferrari will post 3.66 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of RACE. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Ferrari by 66.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,153,572 shares of the company’s stock valued at $139,028,000 after purchasing an additional 459,151 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Ferrari by 17.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,623,805 shares of the company’s stock valued at $356,889,000 after acquiring an additional 383,000 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Ferrari by 15,027.1% during the 2nd quarter. Victory Capital Management Inc. now owns 340,058 shares of the company’s stock valued at $45,911,000 after acquiring an additional 337,810 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Ferrari by 1,424.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 171,389 shares of the company’s stock valued at $23,138,000 after acquiring an additional 160,146 shares in the last quarter. Finally, Pelham Capital Ltd. acquired a new stake in shares of Ferrari during the 2nd quarter valued at $16,298,000. 34.26% of the stock is currently owned by hedge funds and other institutional investors.
Ferrari Company Profile
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
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