Ferrari (NYSE:RACE) Raised to Hold at Kepler Capital Markets

Ferrari (NYSE:RACEGet Rating) was upgraded by investment analysts at Kepler Capital Markets from a “reduce” rating to a “hold” rating in a report released on Wednesday, Stock Target Advisor reports.

Several other research firms have also commented on RACE. Citigroup cut their price objective on Ferrari from €160.00 ($172.04) to €140.00 ($150.54) in a research report on Tuesday, May 31st. JPMorgan Chase & Co. cut their price objective on Ferrari from $230.00 to $210.00 in a research report on Monday, April 25th. Zacks Investment Research raised Ferrari from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. Cheuvreux raised Ferrari from a “reduce” rating to a “hold” rating in a research report on Wednesday. Finally, Redburn Partners raised Ferrari from a “neutral” rating to a “buy” rating in a research report on Friday, March 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Ferrari currently has an average rating of “Buy” and a consensus target price of $241.09.

NYSE:RACE traded up $3.13 during mid-day trading on Wednesday, hitting $194.29. The company had a trading volume of 2,689 shares, compared to its average volume of 511,259. The business has a fifty day simple moving average of $205.72 and a 200-day simple moving average of $224.82. The company has a current ratio of 3.82, a quick ratio of 3.24 and a debt-to-equity ratio of 1.14. Ferrari has a 1 year low of $178.87 and a 1 year high of $278.78. The firm has a market capitalization of $35.90 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 3.50 and a beta of 0.94.

A number of institutional investors have recently made changes to their positions in the stock. Compton Capital Management Inc. RI increased its holdings in Ferrari by 4.3% in the fourth quarter. Compton Capital Management Inc. RI now owns 1,200 shares of the company’s stock valued at $311,000 after buying an additional 50 shares during the last quarter. Highland Capital Management LLC increased its holdings in Ferrari by 1.0% in the first quarter. Highland Capital Management LLC now owns 5,250 shares of the company’s stock valued at $1,145,000 after buying an additional 50 shares during the last quarter. Atlas Capital Advisors LLC increased its holdings in Ferrari by 7.4% in the first quarter. Atlas Capital Advisors LLC now owns 774 shares of the company’s stock valued at $169,000 after buying an additional 53 shares during the last quarter. Corient Capital Partners LLC increased its holdings in Ferrari by 3.0% in the third quarter. Corient Capital Partners LLC now owns 2,107 shares of the company’s stock valued at $441,000 after buying an additional 62 shares during the last quarter. Finally, Atria Investments LLC increased its holdings in Ferrari by 0.7% in the first quarter. Atria Investments LLC now owns 8,582 shares of the company’s stock valued at $1,872,000 after buying an additional 62 shares during the last quarter. 38.36% of the stock is owned by hedge funds and other institutional investors.

Ferrari Company Profile (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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