This wk on Thursday Ferrari (NYSE:RACE) had its price target raised by research analysts at Bank of America from 235.00 to 265.00 in a research note issued to analysts and investors. The firm presently has a “buy” rating on the stock. Bank of America’s price target suggest a Northside of 44.50% from the current price.
A number of other brokerages have also commented on RACE, Sanford C Bernstein initiated coverage on shares of Ferrari in a research report on Tuesday, 8 September. They issued an “underperform” rating for the company. Overall, the company has a consensus rating of “Buy” and an average target price of 195.69
The company has a market cap of $36-B, a P/E ratio of 61.50, a PEG ratio of 5.33 and a beta of 0.91. Ferrari has a 12 month low of 127.73 and a 12 month high of 199.97. The company has a debt-to-equity ratio of 2.05, a current ratio of 4.69 and a quick ratio of 3.97. Its 50-Day MA is 185.27.
Ferrari last issued its Quarterly earnings data on Monday, 3 August. The company reported 0.04 EPS for the Quarter, missing analysts’ consensus estimates of 0.06 by 0.02. Ferrari had a ROE of 35.34% and a net margin of 15.26%. The company had revenue of $571.00-M for the Quarter. During the same Quarter in the prior year, the business earned 0.96 earnings per share. The company’s revenue was down 42.0% on a Y-Y basis. As a group, sell-side analysts predict that Ferrari will post 3.14 EPS for the current fiscal year.
Ferrari 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, 1-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.
In addition, the company licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods; and Ferrari World, theme parks in Abu Dhabi, UAE and Spain.
Further, it provides direct or indirect finance and leasing services to retail clients and dealers; manages race tracks, as well as owns and manages 2 museums in Maranello and Modena, Italy; and develops and sells a line of apparel and accessories through its monobrand stores.
As of 31 December 2019, the Maranello outfit had 44 retail Ferrari stores, including 24 franchised stores and 20 company owned stores.
The company also sells its products through a network of 166 authorized dealers operating 187 pts of sale worldwide, as well as through its Website, store.ferrari.com.
Ferrari was founded in Y 1947 and is HQ’d in Maranello, Italy.
Ferrari is The Aristocrat of the automotive sector.
Our overall technical outlook is Bullish with a Very Bullish bias, a Key indicators are flashing Very Bullish long-term.
Ferrari finished Friday at 192.52, +4.81 in NY. It’s all time high was marked at 199.97 marked intraday Wednesday, 26 August.
The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, Morgan Stanley and Bank of America.
Ferrari will continue to create value in the long term as it becomes the world’s 1st Super Luxury brand.
Ferrari is a quality 1st long term luxury products investment, and I called it at it at 200+/share ATV (after the virus) and sided with BAML to 230 long term.
Thursday, 13 August I raised my long term target to 300, a Strong Bull call.
Ferrari has an average rating of “Buy” and an average target price at 194.33.
The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term ATV and siding with BAML to 230 long term for now.
The stock is now considered defensive in the sector.
Have a healthy weekend, Keep the Faith!