Recent Research Analysts’ Ratings Updates for Ferrari (RACE)

Several brokerages have updated their recommendations and price targets on shares of Ferrari (NYSE: RACE) in the last few weeks:

• 4/22/2024 – Ferrari had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $400.00 price target on the stock.
• 4/22/2024 – Ferrari had its price target raised by analysts at Evercore ISI from $430.00 to $465.00. They now have an “outperform” rating on the stock.
• 4/18/2024 – Ferrari had its price target raised by analysts at Sanford C. Bernstein from $448.00 to $512.00. They now have an “outperform” rating on the stock.
• 4/10/2024 – Ferrari had its price target raised by analysts at Bank of America Co. from $458.00 to $512.00. They now have a “buy” rating on the stock.
• 4/4/2024 – Ferrari was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating.
• 3/22/2024 – Ferrari was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/11/2024 – Ferrari was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/4/2024 – Ferrari was downgraded by analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating.
• 3/2/2024 – Ferrari was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 2/23/2024 – Ferrari was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Ferrari Stock Performance

RACE stock traded up $3.42 during midday trading on Monday, reaching $409.47. 109,708 shares of the company’s stock traded hands, compared to its average volume of 305,988. The company has a 50-day simple moving average of $416.97 and a two-hundred day simple moving average of $367.95. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81. Ferrari has a 1-year low of $273.39 and a 1-year high of $442.80.

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

Ferrari Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Friday, May 3rd. Stockholders 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 dividend yield of 0.62%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RACE. National Bank of Canada FI lifted its stake in shares of Ferrari by 14.2% during the third quarter. National Bank of Canada FI now owns 13,457 shares of the company’s stock valued at $3,999,000 after acquiring an additional 1,670 shares during the period. CWM LLC lifted its position in Ferrari by 33.7% during the 3rd quarter. CWM LLC now owns 484 shares of the company’s stock valued at $143,000 after purchasing an additional 122 shares during the period. Legacy Capital Wealth Partners LLC bought a new position in shares of Ferrari in the 3rd quarter valued at about $228,000. U S Global Investors Inc. acquired a new stake in shares of Ferrari during the 3rd quarter worth approximately $222,000. Finally, Simplicity Solutions LLC raised its stake in shares of Ferrari by 2.8% during the third quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock worth $417,000 after buying an additional 39 shares during the last quarter.

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.