Ferrari (NYSE:RACE) Stock Rating Lowered by Barclays

Ferrari (NYSE:RACE - Get Free Report) was downgraded by analysts at Barclays from an "overweight" rating to an "equal weight" rating in a research report issued to clients and investors on Wednesday, MarketBeat reports.

A number of other research firms also recently issued reports on RACE. UBS Group increased their price objective on Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Ferrari from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Evercore ISI increased their price target on Ferrari from $475.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Finally, StockNews.com cut Ferrari from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $507.14.

Ferrari Trading Up 1.1 %

Shares of RACE traded up $5.24 during trading hours on Wednesday, hitting $464.54. 539,298 shares of the stock traded hands, compared to its average volume of 322,209. Ferrari has a 1-year low of $373.79 and a 1-year high of $498.23. The business has a fifty day moving average of $434.09 and a 200-day moving average of $449.06. 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 firm has a market capitalization of $113.23 billion, a PE ratio of 53.95, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $1.98 earnings per share. The firm's revenue was up 6.5% compared to the same quarter last year. Analysts expect that Ferrari will post 8.59 EPS for the current year.

Institutional Trading of Ferrari

A number of hedge funds have recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Ferrari during the 3rd quarter worth approximately $29,000. Hanson & Doremus Investment Management acquired a new stake in Ferrari during the 4th quarter worth approximately $26,000. Planning Capital Management Corp acquired a new stake in Ferrari during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new position in Ferrari during the 3rd quarter worth $33,000. Finally, FSC Wealth Advisors LLC bought a new position in Ferrari during the 3rd quarter worth $47,000.

Ferrari Company Profile

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.