Ferrari (NYSE:RACE) has been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $115.17.
Several brokerages have issued reports on RACE. Zacks Investment Research raised Ferrari from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. HSBC began coverage on Ferrari in a research note on Monday, December 11th. They issued a “hold” rating for the company. Jefferies Group upped their target price on Ferrari to $130.00 and gave the stock a “buy” rating in a research note on Friday, December 8th. BidaskClub lowered Ferrari from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, TheStreet raised Ferrari from a “c” rating to a “b-” rating in a research note on Friday, October 20th.
Shares of Ferrari (NYSE RACE) traded up $0.09 on Thursday, reaching $105.56. The company’s stock had a trading volume of 198,400 shares, compared to its average volume of 577,984. The stock has a market capitalization of $19,928.98, a price-to-earnings ratio of 34.13, a P/E/G ratio of 2.61 and a beta of 1.47. The company has a debt-to-equity ratio of 2.77, a quick ratio of 2.68 and a current ratio of 3.26. Ferrari has a 1-year low of $57.40 and a 1-year high of $121.14.
Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Ferrari by 124.2% during the second 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 during the period. Rehmann Capital Advisory Group bought a new position in shares of Ferrari during the third quarter valued at approximately $263,000. Geode Capital Management LLC bought a new position in shares of Ferrari during the first quarter valued at approximately $1,005,000. Comerica Bank raised its holdings in shares of Ferrari by 18.5% during the third quarter. Comerica Bank now owns 12,040 shares of the company’s stock valued at $1,411,000 after acquiring an additional 1,880 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Ferrari by 1,401.8% during the third quarter. Sei Investments Co. now owns 95,937 shares of the company’s stock valued at $10,599,000 after acquiring an additional 89,549 shares in the last quarter. 31.85% of the stock is owned by hedge funds and other institutional investors.
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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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