Ferrari (NYSE:RACE) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari (NYSE:RACE) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “hold” rating on the stock.

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

Ferrari Trading Down 3.3 %

Shares of RACE stock opened at $446.27 on Thursday. The stock has a 50-day simple moving average of $435.35 and a 200 day simple moving average of $449.25. Ferrari has a fifty-two week low of $375.31 and a fifty-two week high of $498.23. The stock has a market capitalization of $108.78 billion, a P/E ratio of 51.83, a P/E/G 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 for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business earned $1.98 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Ferrari will post 8.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ferrari

Several hedge funds have recently bought and sold shares of RACE. Hanson & Doremus Investment Management purchased a new stake in Ferrari in the 4th quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Ferrari during the 3rd quarter worth about $29,000. Planning Capital Management Corp purchased a new stake in shares of Ferrari during the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ferrari during the 3rd quarter worth about $33,000. Finally, Armstrong Advisory Group Inc. raised its stake in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares in the last quarter.

About Ferrari

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.