Ferrari (NYSE:RACE) Given Consensus Rating of “Buy” by Brokerages

Shares of Ferrari (NYSE:RACEGet Rating) have been given an average rating of “Buy” by the eighteen research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $242.10.

RACE has been the subject of several research reports. JPMorgan Chase & Co. lowered their price target on shares of Ferrari from $230.00 to $210.00 in a research report on Monday, April 25th. UBS Group upped their price target on shares of Ferrari from $260.00 to $263.00 and gave the stock a “buy” rating in a research report on Monday, April 4th. Redburn Partners raised shares of Ferrari from a “neutral” rating to a “buy” rating in a research report on Friday, March 11th. Citigroup lowered their price target on shares of Ferrari from €160.00 ($172.04) to €140.00 ($150.54) in a research report on Tuesday. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th.

Several hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new stake in Ferrari during the fourth quarter worth $25,000. Concord Wealth Partners purchased a new stake in Ferrari during the fourth quarter worth $26,000. Masso Torrence Wealth Management Inc. purchased a new stake in Ferrari during the fourth quarter worth $26,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Ferrari by 384.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 126 shares of the company’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Finally, MUFG Americas Holdings Corp purchased a new stake in Ferrari during the fourth quarter worth $40,000. 38.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of RACE opened at $197.88 on Friday. The company has a 50 day moving average price of $207.56 and a 200-day moving average price of $227.07. Ferrari has a fifty-two week low of $178.87 and a fifty-two week high of $278.78. The stock has a market capitalization of $36.56 billion, a PE ratio of 36.44, a PEG ratio of 3.53 and a beta of 0.94. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.24 and a current ratio of 3.82.

The firm also recently disclosed an annual dividend, which was paid on Friday, May 6th. Stockholders of record on Wednesday, April 20th were issued a $1.362 dividend. This represents a dividend yield of 0.66%. The ex-dividend date was Tuesday, April 19th.

About Ferrari (Get Rating)

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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