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

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari (NYSE:RACE) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm issued a hold rating on the stock.

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

Ferrari Stock Performance

Ferrari stock opened at $461.67 on Thursday. The stock has a market cap of $112.53 billion, a P/E ratio of 53.62, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $434.75 and a 200-day moving average of $449.16. Ferrari has a 52 week low of $375.31 and a 52 week high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business earned $1.98 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts expect that Ferrari will post 8.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Ferrari

A number of hedge funds have recently added to or reduced their stakes in RACE. Cerity Partners LLC increased its holdings in shares of Ferrari by 14.0% during the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after purchasing an additional 3,308 shares during the period. Miracle Mile Advisors LLC increased its holdings in shares of Ferrari by 123.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock valued at $3,826,000 after purchasing an additional 4,983 shares during the period. Mediolanum International Funds Ltd increased its holdings in shares of Ferrari by 24.7% during the fourth quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock valued at $3,874,000 after purchasing an additional 1,796 shares during the period. Rheos Capital Works Inc. increased its holdings in shares of Ferrari by 30.3% during the third quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock valued at $52,511,000 after purchasing an additional 26,000 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Ferrari by 1.4% during the third quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock valued at $23,948,000 after purchasing an additional 693 shares during the period.

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.