Ferrari (NYSE:RACE) Price Target Increased to $512.00 by Analysts at Sanford C. Bernstein

Ferrari (NYSE:RACE) had its target price hoisted by Sanford C. Bernstein from $448.00 to $512.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

RACE has been the subject of a number of other reports. StockNews.com raised shares of Ferrari from a hold rating to a buy rating in a report on Friday, March 22nd. UBS Group upped their price objective on Ferrari from $413.00 to $448.00 and gave the stock a buy rating in a report on Friday, February 2nd. Barclays cut Ferrari from an overweight rating to an equal weight rating in a report on Thursday, April 4th. Citigroup lowered Ferrari from a neutral rating to a sell rating in a research note on Monday, March 4th. Finally, Bank of America lifted their price target on shares of Ferrari from $458.00 to $512.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of Hold and an average price target of $393.86.

Ferrari Stock Down 0.8 %

Ferrari stock opened at $412.52 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. The business has a 50-day simple moving average of $416.64 and a 200 day simple moving average of $366.18. Ferrari has a 52 week low of $272.70 and a 52 week high of $442.80.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.59 by $0.15. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. As a group, sell-side analysts predict that Ferrari will post 8.31 EPS for the current fiscal year.

Ferrari Announces Dividend

The company also recently announced an annual dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be paid a $2.443 dividend. This represents a dividend yield of 0.62%. The ex-dividend date is Monday, April 22nd.

Institutional Investors Weigh In On Ferrari

A number of large investors have recently added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new stake in shares of Ferrari during the first quarter worth about $33,000. Jamison Private Wealth Management Inc. purchased a new position in shares of Ferrari during the fourth quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Ferrari during the second quarter valued at approximately $33,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in Ferrari by 320.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after acquiring an additional 80 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares in the last quarter.

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.