Ferrari (NYSE:RACE) PT Raised to $465.00

Ferrari (NYSE:RACE) had its price target hoisted by Evercore ISI from $430.00 to $465.00 in a report published on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

RACE has been the subject of a number of other reports. Barclays lowered shares of Ferrari from an overweight rating to an equal weight rating in a report on Thursday, April 4th. Citigroup downgraded shares of Ferrari from a neutral rating to a sell rating in a research report on Monday, March 4th. StockNews.com raised shares of Ferrari from a hold rating to a buy rating in a research report on Friday, March 22nd. Bank of America boosted their price objective on shares of Ferrari from $458.00 to $512.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Finally, Sanford C. Bernstein boosted their price objective on shares of Ferrari from $448.00 to $512.00 and gave the company an outperform rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Ferrari currently has a consensus rating of Hold and an average price target of $413.86.

Ferrari Trading Down 1.0 %

NYSE:RACE opened at $420.33 on Monday. The company has a fifty day moving average of $419.13 and a 200 day moving average of $369.92. Ferrari has a 52 week low of $273.39 and a 52 week high of $442.80. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $77.66 billion, a P/E ratio of 56.42, a P/E/G ratio of 3.14 and a beta of 0.97.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. On average, research analysts predict that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be given a $2.443 dividend. This represents a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, April 22nd. Ferrari’s dividend payout ratio is presently 6.91%.

Institutional Trading of Ferrari

Hedge funds and other institutional investors have recently modified their holdings of the business. Register Financial Advisors LLC purchased a new stake in Ferrari during the 1st quarter valued at about $33,000. Jamison Private Wealth Management Inc. purchased a new stake in Ferrari during the 4th quarter valued at about $27,000. Householder Group Estate & Retirement Specialist LLC grew its position in Ferrari by 320.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after purchasing an additional 80 shares during the last quarter. Spire Wealth Management purchased a new stake in Ferrari during the 1st quarter valued at about $46,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Ferrari during the 1st quarter valued at about $48,000.

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.