Ferrari (RACE) PT Raised to $130.00

Ferrari (NYSE:RACE) had its price target increased by Jefferies Group to $130.00 in a report released on Friday, The Fly reports. They currently have a buy rating on the stock. Jefferies Group also issued estimates for Ferrari’s FY2017 earnings at $3.09 EPS and FY2018 earnings at $3.34 EPS.

Several other equities analysts have also recently commented on the stock. BidaskClub cut shares of Ferrari from a strong-buy rating to a buy rating in a research note on Thursday, November 9th. Zacks Investment Research cut shares of Ferrari from a hold rating to a sell rating in a research note on Wednesday, November 8th. TheStreet raised shares of Ferrari from a c rating to a b- rating in a research note on Friday, October 20th. Goldman Sachs Group started coverage on shares of Ferrari in a research note on Wednesday, September 13th. They issued a neutral rating and a $131.00 price target for the company. Finally, Morgan Stanley cut shares of Ferrari from an overweight rating to an underweight rating and set a $100.00 price target for the company. in a research note on Thursday, September 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $114.71.

Ferrari (NYSE:RACE) opened at $106.44 on Friday. The company has a market cap of $19,998.89, a P/E ratio of 34.25, a P/E/G ratio of 2.52 and a beta of 1.47. Ferrari has a 12 month low of $56.49 and a 12 month high of $121.14. The company has a debt-to-equity ratio of 2.77, a quick ratio of 2.68 and a current ratio of 3.26.

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of Ferrari by 124.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock valued at $69,836,000 after purchasing an additional 449,795 shares in the last quarter. Rehmann Capital Advisory Group purchased a new stake in shares of Ferrari in the 3rd quarter valued at $263,000. Geode Capital Management LLC purchased a new stake in shares of Ferrari in the 1st quarter valued at $1,005,000. Prudential PLC boosted its stake in shares of Ferrari by 7.7% in the 2nd quarter. Prudential PLC now owns 68,009 shares of the company’s stock valued at $5,850,000 after purchasing an additional 4,860 shares in the last quarter. Finally, Cavalier Investments LLC boosted its stake in shares of Ferrari by 35.7% in the 3rd quarter. Cavalier Investments LLC now owns 11,400 shares of the company’s stock valued at $1,259,000 after purchasing an additional 3,000 shares in the last quarter. 31.86% of the stock is owned by institutional investors and hedge funds.

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About Ferrari

Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.

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