Ferrari (NYSE:RACE) Now Covered by Jefferies Financial Group

Analysts at Jefferies Financial Group began coverage on shares of Ferrari (NYSE:RACE - Get Free Report) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set a "hold" rating and a $403.00 price target on the stock. Jefferies Financial Group's price objective points to a potential downside of 0.50% from the company's previous close.

A number of other equities research analysts have also recently commented on RACE. Barclays cut Ferrari from an "overweight" rating to an "equal weight" rating in a report on Thursday, April 4th. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research report on Thursday, May 2nd. Morgan Stanley reaffirmed an "overweight" rating and issued a $400.00 price objective on shares of Ferrari in a research report on Monday, April 22nd. Bank of America upped their target price on shares of Ferrari from $458.00 to $512.00 and gave the company a "buy" rating in a research note on Wednesday, April 10th. Finally, Citigroup downgraded Ferrari from a "neutral" rating to a "sell" rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $456.67.

Ferrari Stock Performance

Shares of NYSE RACE traded down $2.41 during trading hours on Friday, reaching $405.02. The stock had a trading volume of 222,432 shares, compared to its average volume of 308,176. The firm has a market cap of $74.83 billion, a price-to-earnings ratio of 54.66, a PEG ratio of 3.29 and a beta of 0.98. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81. Ferrari has a fifty-two week low of $283.20 and a fifty-two week high of $442.80. The firm has a 50-day moving average of $421.57 and a 200-day moving average of $377.69.

Institutional Investors Weigh In On Ferrari

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Ferrari in the 4th quarter worth about $572,523,000. Legal & General Group Plc raised its stake in shares of Ferrari by 8,986.8% during the third quarter. Legal & General Group Plc now owns 1,004,094 shares of the company's stock valued at $297,327,000 after purchasing an additional 993,044 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new position in Ferrari in the 3rd quarter valued at about $157,620,000. International Assets Investment Management LLC acquired a new position in Ferrari during the 4th quarter valued at about $162,296,000. Finally, Mackenzie Financial Corp raised its position in shares of Ferrari by 172.8% during the 4th quarter. Mackenzie Financial Corp now owns 329,927 shares of the company's stock worth $111,508,000 after buying an additional 208,966 shares in the last quarter.

Ferrari Company Profile

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.