Ferrari (NYSE:RACE) Stock Rating Upgraded by StockNews.com

Ferrari (NYSE:RACEGet Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other equities analysts have also recently issued reports on RACE. Morgan Stanley restated an “overweight” rating and set a $400.00 target price on shares of Ferrari in a report on Monday, April 22nd. Bank of America lifted their price objective on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Evercore ISI lifted their price objective on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Finally, Sanford C. Bernstein lifted their price objective on Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ferrari presently has a consensus rating of “Hold” and a consensus price target of $456.67.

View Our Latest Stock Report on Ferrari

Ferrari Trading Down 0.8 %

Shares of RACE opened at $415.05 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. Ferrari has a 1 year low of $283.20 and a 1 year high of $442.80. The stock’s 50-day moving average price is $420.46 and its two-hundred day moving average price is $385.23.

Institutional Investors Weigh In On Ferrari

Several institutional investors have recently bought and sold shares of RACE. Norges Bank bought a new stake in Ferrari in the 4th quarter valued at approximately $572,523,000. Legal & General Group Plc lifted its stake in Ferrari by 8,986.8% in the 3rd quarter. Legal & General Group Plc now owns 1,004,094 shares of the company’s stock valued at $297,327,000 after acquiring an additional 993,044 shares in the last quarter. Capital International Investors increased its position in shares of Ferrari by 314.3% during the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after purchasing an additional 791,596 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in shares of Ferrari during the 3rd quarter worth approximately $157,620,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Ferrari during the 4th quarter worth approximately $162,296,000.

Ferrari Company Profile

(Get Free Report)

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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