Ferrari (NYSE:RACE) PT Raised to $512.00

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

Several other brokerages have also recently weighed in on RACE. Bank of America lifted their price objective on Ferrari from $458.00 to $512.00 and gave the company a buy rating in a report on Wednesday, April 10th. UBS Group lifted their price objective on Ferrari from $413.00 to $448.00 and gave the company a buy rating in a report on Friday, February 2nd. StockNews.com raised Ferrari from a hold rating to a buy rating in a report on Friday, March 22nd. Citigroup cut Ferrari from a neutral rating to a sell rating in a report on Monday, March 4th. Finally, Barclays cut Ferrari from an overweight rating to an equal weight rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $393.86.

Ferrari Stock Down 1.0 %

NYSE:RACE opened at $408.65 on Thursday. The stock has a 50 day simple moving average of $416.97 and a 200 day simple moving average of $367.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. Ferrari has a 1-year low of $272.70 and a 1-year high of $442.80.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.15. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. As a group, research analysts expect that Ferrari will post 8.31 earnings per share for the current fiscal year.

Ferrari Dividend Announcement

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

Institutional Investors Weigh In On Ferrari

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jamison Private Wealth Management Inc. bought a new stake in shares of Ferrari in the 4th quarter valued at about $27,000. Register Financial Advisors LLC bought a new stake in shares of Ferrari in the 1st quarter valued at about $33,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Ferrari in the 2nd quarter valued at about $33,000. Householder Group Estate & Retirement Specialist LLC grew its position in shares of Ferrari by 320.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after buying an additional 80 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after buying an additional 30 shares during 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.