Ferrari (RACE) Now Covered by HSBC

HSBC initiated coverage on shares of Ferrari (NYSE:RACE) in a report published on Monday, MarketBeat reports. The brokerage issued a hold rating on the stock.

RACE has been the topic of several other research reports. Zacks Investment Research lowered shares of Ferrari from a strong-buy rating to a hold rating in a report on Thursday, November 2nd. Morgan Stanley lowered shares of Ferrari from an overweight rating to an underweight rating and set a $100.00 price objective for the company. in a report on Thursday, September 7th. Evercore ISI raised their price objective on shares of Ferrari from $46.00 to $105.00 and gave the stock an in-line rating in a report on Friday, September 1st. TheStreet raised shares of Ferrari from a c rating to a b- rating in a report on Friday, October 20th. Finally, BidaskClub lowered shares of Ferrari from a strong-buy rating to a buy rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Ferrari has a consensus rating of Hold and a consensus target price of $114.71.

Shares of Ferrari (NYSE RACE) opened at $105.02 on Monday. Ferrari has a one year low of $57.40 and a one year high of $121.14. The stock has a market cap of $19,991.33, a price-to-earnings ratio of 34.24, a P/E/G ratio of 2.61 and a beta of 1.47. The company has a current ratio of 3.26, a quick ratio of 2.68 and a debt-to-equity ratio of 2.77.

A number of hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC boosted its holdings in shares of Ferrari by 1.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,976 shares of the company’s stock valued at $162,000 after buying an additional 24 shares during the period. Strategic Global Advisors LLC lifted its position in Ferrari by 0.6% in the 2nd quarter. Strategic Global Advisors LLC now owns 6,034 shares of the company’s stock valued at $519,000 after purchasing an additional 38 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Ferrari by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,917 shares of the company’s stock valued at $165,000 after purchasing an additional 119 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Ferrari by 2.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,568 shares of the company’s stock valued at $907,000 after purchasing an additional 267 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its position in Ferrari by 5.7% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 5,010 shares of the company’s stock valued at $431,000 after purchasing an additional 270 shares during the last quarter. 31.86% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Ferrari (NYSE:RACE)

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