Firms Covering Ferrari (NYSE:RACE) Rate it a “Hold”

Firms Covering Ferrari (NYSE:RACE) Rate it a “Hold”

Firms Covering Ferrari (NYSE:RACE) Rate it a “Hold”

Ferrari (NYSE:RACE) has been assigned a “Hold” recommendation from 11 ratings firms covering the stock, 2 rated it with a Sell recommendation, 4 have assigned is a Buy.

The average 12 month target price among analysts that have issued ratings on the stock in the last year is 48.93.

Several brokerages recently weighed in on RACE.

Vetr raised Ferrari from a “hold” rating to a “buy” rating and set a 45.17 price objective for the company in a report on 9 May.

JPMorgan Chase & Co. upped its target price from 46.00 to 51.00 and gave the company a “Neutral” rating in a report on 19 April.

Zacks Investment Research raised Ferrari from a “Hold” rating to a “Strong-buy” rating and set a 47.00 target price for the company in a report on 29 March.

Ferrari finished at 38.88 Monday, 1.71, or 4.21%.

The stock has a market capitalization of $7.35-B and a P/E ratio of 21.71. The company has a 50-Day MA price of 42.00 and a 200-Day MA price of 42.20. Ferrari has 52 wk trading range of 31.66 – 60.97.

The firm last announced its Quarterly earnings data on Monday, 2 May. The company reported EPS of 0.41 for the Quarter, beating the Thomson Reuters’ consensus estimate of 0.30 by 0.11.

The firm earned $675-M during the Quarter, compared to the consensus estimate of $648.56-M. Ferrari’s Quarterly revenue was up 8.7% compared to the same Quarter last year.

On average, equities analysts predict that Ferrari will post 1.87 EPS for the current year.

Ferrari NV, is an Italy-based company, incorporated in the Netherlands, engaged in designing, manufacturing and selling Supersports cars under the Ferrari brand.

Its products include 9 sports car models, including 7 sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as 2 GT cars, the California T and FF.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 38.88 27 Jun 2016 -1.71 39.71 39.71 38.71 1,103,600
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bearish (-0.28) Neutral (-0.22) Bearish (-0.33) Bearish (-0.28)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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