Ferrari (NYSE:RACE) Rating Increased to Buy at StockNews.com

Ferrari (NYSE:RACE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

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

Ferrari Price Performance

RACE stock opened at $474.84 on Wednesday. The company has a market capitalization of $115.09 billion, a P/E ratio of 51.90, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The business has a 50-day simple moving average of $441.18 and a two-hundred day simple moving average of $446.72. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Institutional Investors Weigh In On Ferrari

Several institutional investors have recently added to or reduced their stakes in RACE. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari in the fourth quarter valued at approximately $26,000. GW&K Investment Management LLC raised its holdings in Ferrari by 288.9% during the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after acquiring an additional 52 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of Ferrari during the fourth quarter worth $32,000. Alpine Bank Wealth Management purchased a new stake in shares of Ferrari during the first quarter worth $33,000. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after acquiring an additional 50 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.