Ferrari N.V. (NYSE:RACE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ferrari N.V. (NYSE:RACE) has earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $471.97.

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Wednesday. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Wolfe Research started coverage on shares of Ferrari in a research report on Tuesday, July 7th. They issued an “outperform” rating on the stock. Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $388.00 to $438.00 in a research report on Monday, June 15th.

Ferrari Trading Up 0.6%

NYSE RACE traded up $2.11 on Friday, hitting $376.78. 250,131 shares of the stock were exchanged, compared to its average volume of 498,534. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The stock has a fifty day moving average price of $352.36 and a two-hundred day moving average price of $352.64. The firm has a market capitalization of $88.15 billion, a P/E ratio of 36.16, a P/E/G ratio of 3.23 and a beta of 0.92. Ferrari has a 52-week low of $312.51 and a 52-week high of $519.10.

Institutional Investors Weigh In On Ferrari

A number of institutional investors and hedge funds have recently modified their holdings of RACE. Revolve Wealth Partners LLC purchased a new stake in Ferrari in the second quarter worth $307,000. Valeo Financial Advisors LLC lifted its position in shares of Ferrari by 25.1% during the second quarter. Valeo Financial Advisors LLC now owns 1,255 shares of the company’s stock worth $467,000 after purchasing an additional 252 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Ferrari by 2,004.6% during the second quarter. Assenagon Asset Management S.A. now owns 184,129 shares of the company’s stock valued at $68,535,000 after purchasing an additional 175,380 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of Ferrari by 33.6% during the second quarter. 180 Wealth Advisors LLC now owns 993 shares of the company’s stock valued at $370,000 after purchasing an additional 250 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Ferrari by 66.2% during the second quarter. Versant Capital Management Inc now owns 1,306 shares of the company’s stock valued at $484,000 after purchasing an additional 520 shares during the period.

Trending Headlines about Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Mercedes boss Toto Wolff said Ferrari could challenge Mercedes for the rest of the F1 season, a comment that may boost sentiment around Ferrari’s competitive outlook and brand visibility. Toto Wolff warns Ferrari will challenge Mercedes for ‘rest of the F1 season’
• Positive Sentiment: Ferrari’s Madrid track filming day and its data-gathering efforts ahead of rivals highlight ongoing F1 development, which can support enthusiasm around the team’s performance momentum. First look: Ferrari gives Madrid track its F1 debut on filming day Ferrari begins gathering what could be crucial data ahead of its F1 rivals
• Neutral Sentiment: Several articles covered Ferrari cars in drag races and enthusiast content, which may help brand exposure but is unlikely to materially affect the stock. Is the Ferrari Pista faster than the Ferrari F8 Tributo in drag race? Lamborghini Revuelto faces Ferrari 296 GTB in drag race
• Negative Sentiment: An article on Ferrari’s Austria engine upgrade said the race exposed problems the update could not fix, which could weigh on sentiment if investors view it as a sign of persistent performance issues in F1. Ferrari brought an engine upgrade to Austria – then the race exposed everything it could not fix
• Negative Sentiment: Coverage of a Ferrari race car crash at Watkins Glen and a classic Mini destroying a tuned Ferrari in a drag race may be mildly negative for brand optics, though likely limited in financial impact. Ferrari race car crash at Watkins Glen during 130 mph run Classic Mini Destroys Tuned Ferrari 488 In Wild Drag Race Battle

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.