Investment analysts at Credit Suisse Group assumed coverage on shares of Ferrari (NYSE:RACE) in a note issued to investors on Monday. The brokerage set an “outperform” rating and a $150.00 price target on the stock. Credit Suisse Group’s price objective indicates a potential upside of 20.66% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. Morgan Stanley boosted their price target on shares of Ferrari from $100.00 to $105.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Zacks Investment Research upgraded shares of Ferrari from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a report on Friday, February 2nd. HSBC assumed coverage on shares of Ferrari in a research note on Monday, December 11th. They issued a “hold” rating on the stock. Jefferies Group upped their price objective on shares of Ferrari to $130.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Finally, UBS Group reiterated a “buy” rating and issued a $160.00 price objective (up previously from $129.00) on shares of Ferrari in a research note on Monday, February 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $126.88.
Ferrari (NYSE RACE) traded down $0.39 during mid-day trading on Monday, hitting $124.32. 414,257 shares of the stock were exchanged, compared to its average volume of 614,197. Ferrari has a twelve month low of $66.10 and a twelve month high of $131.20. The company has a debt-to-equity ratio of 2.30, a current ratio of 3.27 and a quick ratio of 2.65. The firm has a market capitalization of $23,560.00 and a price-to-earnings ratio of 44.09.
A number of institutional investors have recently added to or reduced their stakes in RACE. Arrowstreet Capital Limited Partnership grew its position in Ferrari by 194.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,238,194 shares of the company’s stock worth $234,710,000 after acquiring an additional 1,477,464 shares in the last quarter. Deutsche Bank AG grew its position in Ferrari by 44.2% in the fourth quarter. Deutsche Bank AG now owns 1,228,151 shares of the company’s stock worth $128,756,000 after acquiring an additional 376,174 shares in the last quarter. WCM Investment Management CA grew its position in Ferrari by 5.9% in the fourth quarter. WCM Investment Management CA now owns 1,041,167 shares of the company’s stock worth $109,156,000 after acquiring an additional 58,303 shares in the last quarter. Bank of New York Mellon Corp grew its position in Ferrari by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 834,176 shares of the company’s stock worth $92,160,000 after acquiring an additional 22,329 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Ferrari in the fourth quarter worth approximately $72,805,000. Hedge funds and other institutional investors own 32.49% of the company’s stock.
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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