Ferrari (NYSE:RACE – Rating Received) was upgraded from a “hold” rating to a “buy” rating by equity researchers at StockNews.com in a report published Monday.
A number of other research companies have also commented on RACE. Credit Suisse Group reiterated a “buy” rating and price target of USD 285.00 on Ferrari shares in a research report on Friday, June 10. Exane BNP Paribas upgraded Ferrari from a “neutral” rating to an “outperform” rating and downgraded the company in a research report on Tuesday 12th. Cheuvreux downgraded Ferrari from one in a research report on Wednesday 8th June “reduced” rating up to a “hold” rating. JPMorgan Chase & Co. lowered its price target on Ferrari to $210.00 from $230.00 in a research report on Monday, April 25. Finally, BNP Paribas upgraded Ferrari to an outperform rating from a “neutral” rating, setting a price target of $255.00 for the company in a research report on Tuesday, April 12. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Ferrari currently has a consensus rating of Buy and a consensus target of $249.90.
Shares of NYSE:RACE rose $1.97 on Monday lunchtime to hit $176.03. The company had a trading volume of 26,551 shares compared to its average volume of 469,103. The company has a leverage ratio of 1.14, a quick ratio of 3.24 and a current ratio of 3.82. Ferrari has a 1 year low of $167.45 and a 1 year high of $278.78. The company has a market cap of $32.52 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-to-growth ratio of 3.19 and a beta of 0.94. The company has a 50-day simple moving average of $197.82 and a 200-day simple moving average of $219.07.
Hedge funds have recently changed their stock holdings. Vanguard Group Inc. increased its position in Ferrari by 3.7% in the first quarter. Vanguard Group Inc. now owns 4,242,136 shares of the company’s stock valued at $925,168,000 after purchasing an additional 151,938 shares during the period. WCM Investment Management LLC increased its holdings in Ferrari shares by 1.9% in the fourth quarter. WCM Investment Management LLC now owns 2,430,951 shares of the company’s stock valued at $629,179,000 after purchasing an additional 44,907 shares last quarter. Norges Bank acquired a new stake in Ferrari stock valued at approximately $374,511,000 during the fourth quarter. AustralianSuper Pty Ltd acquired a new interest in Ferrari stock valued at approximately $297,543,000 during the fourth quarter. Finally, BlackRock Inc. increased its holdings in Ferrari shares by 3.3% in the first quarter. BlackRock Inc. now owns 1,066,538 shares of the company’s stock valued at $232,602,000 after purchasing an additional 33,643 shares last quarter. 38.36% of the shares are currently owned by institutional investors and hedge funds.
Ferrari company profile (received rating)
Ferrari NV, through its subsidiaries, designs, engineers, manufactures and sells luxury sports cars. The company offers sports, GT and special series cars; limited edition hypercars; one-offs and racing cars; and Icona cars. It also offers racing cars and parts and engines, as well as after-sales service, repair, maintenance and restoration of cars.
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