Shares of Ferrari (NYSE:RACE – Get Free Report) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $316.36.
Several analysts have issued reports on the company. UBS Group upped their price objective on Ferrari from $368.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, September 1st. Evercore ISI assumed coverage on Ferrari in a research note on Tuesday, November 7th. They issued an “outperform” rating and a $375.00 price objective on the stock. StockNews.com began coverage on Ferrari in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Jefferies Financial Group increased their target price on Ferrari from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, August 25th. Finally, Sanford C. Bernstein increased their target price on Ferrari from $250.00 to $300.00 and gave the stock a “market perform” rating in a research note on Friday, August 18th.
Ferrari Stock Performance
Institutional Investors Weigh In On Ferrari
A number of large investors have recently added to or reduced their stakes in RACE. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Ferrari in the 1st quarter valued at $27,000. Gordian Capital Singapore Pte Ltd bought a new position in Ferrari in the 2nd quarter valued at approximately $33,000. State of Wyoming bought a new position in Ferrari in the 4th quarter valued at approximately $38,000. Sunbelt Securities Inc. bought a new position in Ferrari in the 1st quarter valued at approximately $39,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Ferrari by 350.0% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 153 shares of the company’s stock valued at $50,000 after buying an additional 119 shares during 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.
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