Ferrari NV (NYSE:RACE) Given Average Rating of “Hold” by Analysts
Shares of Ferrari NV (NYSE:RACE) have received a consensus rating of “Hold” from the eleven research firms that are currently covering the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $49.40.
A number of research analysts have weighed in on RACE shares. Vetr lowered shares of Ferrari NV from a “buy” rating to a “hold” rating and set a $45.17 target price for the company. in a research report on Wednesday, June 8th. Morgan Stanley boosted their target price on shares of Ferrari NV from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 17th.
Ferrari NV (NYSE:RACE) traded up 0.06% during midday trading on Monday, reaching $51.90. 172,330 shares of the company traded hands. The firm has a market capitalization of $9.81 billion and a price-to-earnings ratio of 27.05. The firm’s 50 day moving average price is $48.85 and its 200 day moving average price is $44.28. Ferrari NV has a 12 month low of $31.66 and a 12 month high of $60.97.
A number of hedge funds have recently bought and sold shares of the stock. Baker Ellis Asset Management LLC acquired a new stake in Ferrari NV during the first quarter worth $309,000. Edmond DE Rothschild Italia SGR SPA acquired a new stake in Ferrari NV during the first quarter worth $717,000. East Coast Asset Management LLC. acquired a new stake in Ferrari NV during the first quarter worth $824,000. Edmond DE Rothschild Holding S.A. boosted its stake in Ferrari NV by 583.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 25,484 shares of the company’s stock worth $1,060,000 after buying an additional 21,755 shares during the last quarter. Finally, AXA acquired a new stake in Ferrari NV during the first quarter worth $1,125,000. 26.83% of the stock is currently owned by institutional investors and hedge funds.
Ferrari NV Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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