Ferrari (NYSE:RACE) Downgraded by StockNews.com

StockNews.com cut shares of Ferrari (NYSE:RACEGet Rating) from a buy rating to a hold rating in a report published on Wednesday.

A number of other equities analysts have also recently commented on the company. Cheuvreux raised Ferrari from a reduce rating to a hold rating in a report on Wednesday, June 8th. Kepler Capital Markets raised Ferrari to a hold rating and set a $185.00 target price for the company in a report on Friday, July 8th. BNP Paribas raised Ferrari from a neutral rating to an outperform rating and set a $255.00 target price for the company in a report on Tuesday, April 12th. Morgan Stanley reduced their target price on Ferrari from $350.00 to $300.00 and set an overweight rating for the company in a report on Tuesday, May 24th. Finally, JPMorgan Chase & Co. reduced their target price on Ferrari from $230.00 to $210.00 in a report on Monday, April 25th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $237.00.

Ferrari Stock Performance

NYSE RACE opened at $211.94 on Wednesday. The stock has a market capitalization of $39.16 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 3.99 and a beta of 0.95. Ferrari has a twelve month low of $167.45 and a twelve month high of $278.78. The company has a current ratio of 4.14, a quick ratio of 3.24 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average of $192.39 and a 200 day moving average of $205.35.

Ferrari (NYSE:RACEGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Ferrari had a return on equity of 40.61% and a net margin of 19.35%. Sell-side analysts anticipate that Ferrari will post 4.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RACE. EverSource Wealth Advisors LLC purchased a new position in Ferrari in the fourth quarter worth approximately $25,000. Masso Torrence Wealth Management Inc. purchased a new position in shares of Ferrari during the fourth quarter worth $26,000. Glassman Wealth Services purchased a new position in shares of Ferrari during the first quarter worth $34,000. MUFG Americas Holdings Corp purchased a new position in shares of Ferrari during the fourth quarter worth $40,000. Finally, MCF Advisors LLC purchased a new position in shares of Ferrari during the fourth quarter worth $46,000. 38.36% of the stock is currently owned by hedge funds and other institutional investors.

Ferrari Company Profile

(Get Rating)

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

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