StockNews.com Downgrades Ferrari (NYSE:RACE) to Hold

StockNews.com downgraded shares of Ferrari (NYSE:RACEFree Report) from a buy rating to a hold rating in a research note published on Friday.

Other analysts have also recently issued reports about the stock. Barclays raised shares of Ferrari from an equal weight rating to an overweight rating in a research note on Monday, November 6th. Morgan Stanley lifted their target price on shares of Ferrari from $340.00 to $350.00 and gave the stock an overweight rating in a research note on Friday, November 3rd. UBS Group boosted their price objective on shares of Ferrari from $413.00 to $448.00 and gave the company a buy rating in a research note on Friday. BNP Paribas cut shares of Ferrari from an outperform rating to a neutral rating in a research note on Wednesday, December 13th. Finally, Evercore ISI started coverage on shares of Ferrari in a research note on Tuesday, November 7th. They set an outperform rating and a $375.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $337.00.

Check Out Our Latest Analysis on Ferrari

Ferrari Stock Performance

Shares of NYSE:RACE opened at $371.56 on Friday. The company has a 50-day moving average price of $349.97 and a 200 day moving average price of $327.03. Ferrari has a 52 week low of $252.17 and a 52 week high of $391.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.08 and a current ratio of 3.98.

Hedge Funds Weigh In On Ferrari

Large investors have recently bought and sold shares of the business. Jamison Private Wealth Management Inc. acquired a new stake in shares of Ferrari in the fourth quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Ferrari during the second quarter valued at approximately $33,000. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after acquiring an additional 80 shares during the period. Blue Trust Inc. increased its stake in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Ferrari during the fourth quarter valued at approximately $43,000.

Ferrari Company Profile

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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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Analyst Recommendations for Ferrari (NYSE:RACE)

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