HSBC Reaffirms “Hold” Rating for Ferrari (NYSE:RACE)

by · The Markets Daily

Ferrari (NYSE:RACE – Get Free Report)‘s stock had its “hold” rating reiterated by equities research analysts at HSBC in a report issued on Tuesday, Marketbeat reports.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 12th. Barclays set a $420.00 price target on shares of Ferrari and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Oddo Bhf downgraded Ferrari to a “neutral” rating in a report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ferrari in a research report on Monday, December 29th. Finally, Evercore ISI dropped their target price on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and a consensus target price of $480.67.

Check Out Our Latest Report on Ferrari

Ferrari Stock Up 0.3%

Shares of RACE opened at $377.24 on Tuesday. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76. Ferrari has a 12 month low of $356.93 and a 12 month high of $519.10. The firm’s 50 day moving average is $384.95 and its 200-day moving average is $436.32. The stock has a market capitalization of $91.44 billion, a PE ratio of 38.10, a P/E/G ratio of 4.00 and a beta of 1.01.

Ferrari (NYSE:RACE – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.94 billion. Ferrari had a return on equity of 44.20% and a net margin of 22.65%.Ferrari has set its FY 2025 guidance at 10.290- EPS. Equities research analysts forecast that Ferrari will post 9.22 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RACE. Mather Group LLC. bought a new stake in Ferrari during the 3rd quarter worth approximately $27,000. Westside Investment Management Inc. lifted its holdings in shares of Ferrari by 100.0% during the third quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after purchasing an additional 28 shares during the period. Root Financial Partners LLC bought a new stake in shares of Ferrari in the third quarter worth $28,000. Newbridge Financial Services Group Inc. acquired a new stake in Ferrari in the second quarter valued at $30,000. Finally, Community Bank N.A. bought a new position in Ferrari during the 3rd quarter worth $33,000.

Ferrari Company Profile

(Get Free Report)

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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