Deutsche Bank Aktiengesellschaft Initiates Coverage on Ferrari (NYSE:RACE)

Equities research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari (NYSE:RACE) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set a “hold” rating on the stock.

A number of other equities analysts have also issued reports on the company. Evercore ISI upped their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the company from $385.00 to $525.00 in a research report on Friday, October 11th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group upped their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Performance

Shares of RACE opened at $446.27 on Thursday. The business’s 50 day moving average is $435.35 and its two-hundred day moving average is $449.25. Ferrari has a 52-week low of $375.31 and a 52-week high of $498.23. The firm has a market cap of $108.78 billion, a price-to-earnings ratio of 51.83, a PEG ratio of 3.72 and a beta of 0.95. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company earned $1.98 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts forecast that Ferrari will post 8.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC grew its stake in shares of Ferrari by 14.0% in the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after purchasing an additional 3,308 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Ferrari by 123.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock worth $3,826,000 after purchasing an additional 4,983 shares in the last quarter. Mediolanum International Funds Ltd grew its stake in shares of Ferrari by 24.7% in the fourth quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock worth $3,874,000 after purchasing an additional 1,796 shares in the last quarter. Rheos Capital Works Inc. grew its stake in shares of Ferrari by 30.3% in the third quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock worth $52,511,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of Ferrari by 1.4% in the third quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock worth $23,948,000 after purchasing an additional 693 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.