Ferrari (NYSE:RACE) Hits New 1-Year High at $175.35

Shares of Ferrari NV (NYSE:RACE) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $175.35 and last traded at $175.28, with a volume of 21808 shares changing hands. The stock had previously closed at $173.41.

RACE has been the subject of several recent analyst reports. ValuEngine lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Kepler Capital Markets raised Ferrari to a “buy” rating in a report on Friday, January 10th. Morgan Stanley upped their target price on Ferrari from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Zacks Investment Research raised Ferrari from a “sell” rating to a “hold” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Ferrari presently has an average rating of “Buy” and a consensus price target of $182.72.

The stock has a market cap of $32.71 billion, a PE ratio of 43.42, a P/E/G ratio of 2.58 and a beta of 1.31. The firm has a 50-day simple moving average of $167.62 and a 200-day simple moving average of $161.55. The company has a quick ratio of 3.61, a current ratio of 4.23 and a debt-to-equity ratio of 1.51.

Ferrari (NYSE:RACE) last posted its earnings results on Monday, November 4th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.03). The company had revenue of $915.00 million for the quarter, compared to analysts’ expectations of $889.08 million. Ferrari had a return on equity of 51.17% and a net margin of 19.67%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. On average, research analysts expect that Ferrari NV will post 4.14 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. Doyle Wealth Management bought a new position in Ferrari in the second quarter valued at $25,000. Commonwealth Bank of Australia grew its stake in shares of Ferrari by 44.4% during the second quarter. Commonwealth Bank of Australia now owns 231 shares of the company’s stock valued at $36,000 after buying an additional 71 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Ferrari by 17.3% in the third quarter. Parallel Advisors LLC now owns 440 shares of the company’s stock worth $68,000 after purchasing an additional 65 shares during the last quarter. Carroll Financial Associates Inc. grew its stake in shares of Ferrari by 48.0% in the fourth quarter. Carroll Financial Associates Inc. now owns 688 shares of the company’s stock worth $113,000 after purchasing an additional 223 shares during the last quarter. Finally, Cerebellum GP LLC bought a new stake in shares of Ferrari in the third quarter worth about $125,000. Hedge funds and other institutional investors own 36.04% of the company’s stock.

Ferrari Company Profile (NYSE:RACE)

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: Risk Tolerance

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