Ferrari (NYSE:RACE) had its target price upped by Bank of America from $150.00 to $225.00 in a report issued on Thursday morning, The Fly reports. Bank of America currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on RACE. ValuEngine cut Whiting USA Trust II from a hold rating to a sell rating in a report on Tuesday, May 7th. Zacks Investment Research raised FirstService from a strong sell rating to a hold rating and set a $110.00 price objective on the stock in a research note on Tuesday, June 25th. UBS Group set a €23.50 ($27.33) price objective on Infineon Technologies and gave the stock a buy rating in a research note on Wednesday, July 3rd. Goldman Sachs Group reissued a buy rating and set a $70.00 price objective on shares of Total in a research note on Monday, July 15th. Finally, HSBC cut Ferrari from a buy rating to a hold rating in a research note on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ferrari has a consensus rating of Hold and an average target price of $165.81.

NYSE RACE opened at $166.50 on Thursday. The stock has a market capitalization of $31.46 billion, a P/E ratio of 41.42, a PEG ratio of 2.46 and a beta of 1.34. The company has a quick ratio of 3.67, a current ratio of 4.27 and a debt-to-equity ratio of 1.39. The firm’s fifty day moving average is $158.99. Ferrari has a fifty-two week low of $93.85 and a fifty-two week high of $170.54.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, May 7th. The company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.06. The company had revenue of $940.00 million for the quarter, compared to the consensus estimate of $868.32 million. Ferrari had a return on equity of 53.74% and a net margin of 23.17%. Ferrari’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. Sell-side analysts anticipate that Ferrari will post 4.13 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Rehmann Capital Advisory Group boosted its position in shares of Ferrari by 21.5% during the first quarter. Rehmann Capital Advisory Group now owns 1,050 shares of the company’s stock valued at $140,000 after buying an additional 186 shares during the period. Greenleaf Trust purchased a new position in shares of Ferrari during the first quarter valued at approximately $245,000. Virtu Financial LLC boosted its holdings in shares of Ferrari by 151.0% in the first quarter. Virtu Financial LLC now owns 5,353 shares of the company’s stock valued at $716,000 after purchasing an additional 3,220 shares during the period. Henry James International Management Inc. boosted its holdings in shares of Ferrari by 51.4% in the first quarter. Henry James International Management Inc. now owns 53,963 shares of the company’s stock valued at $7,220,000 after purchasing an additional 18,330 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of Ferrari in the first quarter valued at approximately $5,018,000. 35.94% of the stock is currently owned by 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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

The Fly

Analyst Recommendations for Ferrari (NYSE:RACE)

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