StockNews.com Upgrades Ferrari (NYSE:RACE) to "Buy"

Ferrari (NYSE:RACE - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.

Several other brokerages also recently commented on RACE. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating on the stock. UBS Group dropped their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. lowered their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Ferrari currently has a consensus rating of "Moderate Buy" and a consensus target price of $481.60.

Ferrari Trading Up 1.8 %

Shares of RACE opened at $474.84 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The firm has a market cap of $115.09 billion, a price-to-earnings ratio of 51.90, a PEG ratio of 4.43 and a beta of 1.13. The business's fifty day moving average is $441.18 and its 200-day moving average is $446.72.

Institutional Trading of Ferrari

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RACE. Barclays PLC grew its holdings in Ferrari by 6.1% in the third quarter. Barclays PLC now owns 286,564 shares of the company's stock worth $134,719,000 after purchasing an additional 16,428 shares during the period. Franklin Resources Inc. boosted its position in shares of Ferrari by 60.0% during the 3rd quarter. Franklin Resources Inc. now owns 22,055 shares of the company's stock worth $10,707,000 after purchasing an additional 8,267 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of Ferrari in the 4th quarter valued at about $264,000. Wealth Enhancement Advisory Services LLC increased its position in Ferrari by 8.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,539 shares of the company's stock valued at $1,194,000 after buying an additional 194 shares in the last quarter. Finally, Paragon Advisors LLC raised its stake in Ferrari by 8.0% during the 4th quarter. Paragon Advisors LLC now owns 4,625 shares of the company's stock worth $1,965,000 after buying an additional 342 shares during the period.

About Ferrari

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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