Ferrari (RACE) Upgraded to Outperform at Evercore ISI

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Evercore ISI upgraded shares of Ferrari (NYSE:RACE) from an in-line rating to an outperform rating in a report published on Thursday morning, Briefing.com Automated Import reports.

A number of other brokerages also recently issued reports on RACE. ValuEngine downgraded shares of Ferrari from a buy rating to a hold rating in a report on Thursday, February 14th. Zacks Investment Research downgraded shares of Ferrari from a buy rating to a hold rating in a report on Thursday, April 25th. Credit Suisse Group raised their price target on shares of Ferrari from $148.00 to $158.00 and gave the stock an outperform rating in a report on Wednesday, May 8th. HSBC downgraded shares of Ferrari from a buy rating to a hold rating in a report on Friday, April 26th. Finally, Morgan Stanley raised shares of Ferrari from an equal weight rating to an overweight rating and increased their price objective for the stock from $140.00 to $160.00 in a research report on Thursday, May 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $141.26.

Shares of NYSE RACE opened at $144.29 on Thursday. The company has a market cap of $27.26 billion, a PE ratio of 35.89, a PEG ratio of 2.07 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 4.27 and a quick ratio of 3.67. Ferrari has a 1 year low of $93.85 and a 1 year high of $149.85.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.06. The business had revenue of $940.00 million during the quarter, compared to the consensus estimate of $868.32 million. Ferrari had a net margin of 23.17% and a return on equity of 53.74%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 EPS. On average, sell-side analysts expect that Ferrari will post 4.01 EPS for the current fiscal year.

The business also recently disclosed an annual dividend, which was paid on Thursday, May 2nd. Investors of record on Wednesday, April 24th were given a dividend of $1.1677 per share. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a dividend yield of 0.91%. This is a boost from Ferrari’s previous annual dividend of $0.88.

Several large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its position in shares of Ferrari by 3.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 2,429 shares of the company’s stock worth $325,000 after purchasing an additional 85 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Ferrari by 36.3% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 398 shares of the company’s stock worth $40,000 after purchasing an additional 106 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Ferrari by 5.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,386 shares of the company’s stock worth $319,000 after purchasing an additional 131 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Ferrari by 2.7% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 6,900 shares of the company’s stock worth $923,000 after purchasing an additional 179 shares during the period. Finally, Rehmann Capital Advisory Group boosted its position in shares of Ferrari by 21.5% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,050 shares of the company’s stock worth $140,000 after purchasing an additional 186 shares during the period. 34.42% of the stock is owned by hedge funds and other institutional investors.

Ferrari Company Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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