Goldman Sachs Group Reaffirms Neutral Rating for Ferrari (NYSE:RACE)

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Ferrari (NYSE:RACE)‘s stock had its “neutral” rating reiterated by investment analysts at Goldman Sachs Group in a research note issued to investors on Monday, MarketBeat reports. They presently have a $168.00 price target on the stock, up from their previous price target of $135.00. Goldman Sachs Group’s price target indicates a potential downside of 0.66% from the company’s previous close.

Several other analysts have also weighed in on RACE. HSBC lowered Ferrari from a “buy” rating to a “hold” rating in a report on Friday, April 26th. UBS Group set a €23.50 ($27.33) price objective on Infineon Technologies and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Redburn Partners began coverage on Ferrari in a report on Wednesday, June 5th. They set a “neutral” rating and a $143.04 price objective on the stock. Zacks Investment Research raised FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price objective on the stock in a report on Tuesday, June 25th. Finally, Credit Suisse Group lowered COCA COLA AMATI/ADR from an “outperform” rating to a “neutral” rating in a report on Thursday, June 20th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $158.42.

RACE traded up $0.65 during midday trading on Monday, reaching $169.12. The company’s stock had a trading volume of 441,714 shares, compared to its average volume of 417,045. The stock has a market capitalization of $31.46 billion, a PE ratio of 42.07, a P/E/G ratio of 2.46 and a beta of 1.35. The firm has a fifty day simple moving average of $156.99. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.67 and a current ratio of 4.27. Ferrari has a twelve month low of $93.85 and a twelve month high of $170.54.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, May 7th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.06. Ferrari had a return on equity of 53.74% and a net margin of 23.17%. The firm had revenue of $940.00 million for the quarter, compared to analyst estimates of $868.32 million. During the same quarter last year, the firm posted $0.78 EPS. The company’s revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts expect that Ferrari will post 4.12 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC bought a new stake in shares of Ferrari in the second quarter valued at about $206,000. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Ferrari by 3.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,357,378 shares of the company’s stock valued at $315,418,000 after purchasing an additional 83,187 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in shares of Ferrari in the first quarter valued at about $15,592,000. Rehmann Capital Advisory Group lifted its holdings in shares of Ferrari by 21.5% in the first quarter. Rehmann Capital Advisory Group now owns 1,050 shares of the company’s stock valued at $140,000 after purchasing an additional 186 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Ferrari by 25.1% in the first quarter. Marshall Wace LLP now owns 42,566 shares of the company’s stock valued at $5,711,000 after purchasing an additional 8,539 shares in the last quarter. Institutional investors and hedge funds own 35.94% of the company’s stock.

About Ferrari

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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