Brokerages Set Ferrari N.V. (NYSE:RACE) Price Target at $482.17

Shares of Ferrari N.V. (NYSE:RACEGet Free Report) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $476.5155.

RACE has been the topic of a number of research analyst reports. Oddo Bhf downgraded shares of Ferrari to a “neutral” rating in a research report on Wednesday, December 10th. The Goldman Sachs Group raised shares of Ferrari to a “strong-buy” rating in a research note on Monday, November 24th. Evercore lowered their price target on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. UBS Group cut their price objective on Ferrari from $563.00 to $555.00 and set a “buy” rating for the company in a report on Friday, January 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Ferrari from $460.00 to $457.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th.

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Hedge Funds Weigh In On Ferrari

A number of hedge funds have recently added to or reduced their stakes in RACE. Groupama Asset Managment grew its position in Ferrari by 5.7% in the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock worth $8,244,189,000 after acquiring an additional 916,821 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ferrari by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after purchasing an additional 58,506 shares in the last quarter. Amundi lifted its stake in shares of Ferrari by 11.1% in the 4th quarter. Amundi now owns 3,303,264 shares of the company’s stock valued at $1,220,754,000 after purchasing an additional 330,896 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Ferrari by 63.7% in the third quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock worth $1,295,907,000 after purchasing an additional 1,039,234 shares in the last quarter. Finally, Morgan Stanley increased its position in Ferrari by 43.4% during the fourth quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock worth $941,109,000 after buying an additional 771,039 shares during the last quarter.

Ferrari Trading Down 2.3%

Shares of NYSE RACE opened at $366.38 on Thursday. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76. Ferrari has a one year low of $328.00 and a one year high of $519.10. The business has a 50-day moving average price of $360.29 and a two-hundred day moving average price of $409.53. The firm has a market capitalization of $88.80 billion, a PE ratio of 36.24, a PEG ratio of 3.60 and a beta of 0.99.

Ferrari News Roundup

Here are the key news stories impacting Ferrari this week:

About Ferrari

(Get Free Report)

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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