Ferrari (NYSE:RACE) released its earnings results on Thursday, May 3rd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.10), Briefing.com reports. The business had revenue of $831.00 million for the quarter, compared to analyst estimates of $835.47 million. Ferrari had a return on equity of 79.32% and a net margin of 16.44%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS.
RACE stock opened at $133.73 on Friday. The firm has a market cap of $25.29 billion, a PE ratio of 38.68, a PEG ratio of 2.17 and a beta of 1.39. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.17 and a quick ratio of 2.56. Ferrari has a 52 week low of $131.14 and a 52 week high of $133.86.
Several hedge funds have recently added to or reduced their stakes in RACE. Victory Capital Management Inc. increased its holdings in Ferrari by 25.0% in the 4th quarter. Victory Capital Management Inc. now owns 2,060 shares of the company’s stock valued at $216,000 after purchasing an additional 412 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of Ferrari by 19.8% during the first quarter. Wedbush Securities Inc. now owns 2,530 shares of the company’s stock valued at $305,000 after acquiring an additional 418 shares in the last quarter. Ashfield Capital Partners LLC grew its stake in shares of Ferrari by 4.1% during the first quarter. Ashfield Capital Partners LLC now owns 11,026 shares of the company’s stock valued at $1,329,000 after acquiring an additional 437 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Ferrari by 5.1% during the fourth quarter. Advisor Group Inc. now owns 9,188 shares of the company’s stock valued at $963,000 after acquiring an additional 444 shares in the last quarter. Finally, Comerica Bank grew its stake in shares of Ferrari by 3.7% during the first quarter. Comerica Bank now owns 12,730 shares of the company’s stock valued at $1,568,000 after acquiring an additional 458 shares in the last quarter. Institutional investors and hedge funds own 32.29% of the company’s stock.
Several equities research analysts have recently commented on RACE shares. Credit Suisse Group boosted their price target on Ferrari from $150.00 to $156.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. Zacks Investment Research raised Ferrari from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 18th. UBS reaffirmed a “buy” rating and issued a $160.00 target price (up previously from $129.00) on shares of Ferrari in a research note on Monday, February 26th. Finally, Morgan Stanley upped their target price on Ferrari from $100.00 to $105.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $130.13.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
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