Ferrari (RACE) Earns Sell Rating from Analysts at Societe Generale
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Ferrari from a hold rating to a buy rating and set a $54.00 target price for the company in a research note on Saturday, August 20th. Morgan Stanley reaffirmed an overweight rating and issued a $56.00 price target (up previously from $54.00) on shares of Ferrari in a report on Wednesday, August 17th.
Ferrari (NASDAQ:RACE) opened at 52.40 on Thursday. The company has a market cap of $9.90 billion and a P/E ratio of 27.49. The company has a 50-day moving average of $50.37 and a 200 day moving average of $45.28. Ferrari has a one year low of $31.66 and a one year high of $60.97.
Ferrari (NASDAQ:RACE) last announced its earnings results on Tuesday, August 2nd. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.08. Analysts anticipate that Ferrari will post $2.14 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp bought a new position in Ferrari during the second quarter worth about $271,000. AJO LP bought a new position in Ferrari during the second quarter worth about $286,000. Raymond James & Associates boosted its position in Ferrari by 6.9% in the second quarter. Raymond James & Associates now owns 7,423 shares of the company’s stock worth $302,000 after buying an additional 482 shares in the last quarter. Scotia Capital Inc. bought a new position in Ferrari during the second quarter worth about $360,000. Finally, Carroll Financial Associates Inc. boosted its position in Ferrari by 0.5% in the third quarter. Carroll Financial Associates Inc. now owns 7,714 shares of the company’s stock worth $400,000 after buying an additional 35 shares in the last quarter.
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