Societe Generale initiated coverage on shares of Ferrari (NASDAQ:RACE) in a research report issued on Thursday. The firm set a “sell” rating and a $45.00 price target on the stock. Societe Generale’s target price points to a potential downside of 15.90% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Ferrari from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Saturday, August 20th. Morgan Stanley restated an “overweight” rating on shares of Ferrari in a research report on Wednesday, June 29th.

Shares of Ferrari (NASDAQ:RACE) traded down 1.18% during midday trading on Thursday, reaching $52.88. The company had a trading volume of 526,237 shares. The stock has a market capitalization of $9.99 billion and a PE ratio of 27.74. The stock’s 50 day moving average is $49.93 and its 200-day moving average is $44.94. Ferrari has a 12-month low of $31.66 and a 12-month high of $60.97.

Ferrari (NASDAQ:RACE) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. On average, equities research analysts predict that Ferrari will post $2.14 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of RACE. Stifel Financial Corp purchased a new position in Ferrari during the second quarter worth $271,000. AJO LP purchased a new position in Ferrari during the second quarter worth $286,000. Raymond James & Associates increased its position in Ferrari by 6.9% in the second quarter. Raymond James & Associates now owns 7,423 shares of the company’s stock worth $302,000 after buying an additional 482 shares during the period. Scotia Capital Inc. purchased a new position in Ferrari during the second quarter worth $360,000. Finally, Carroll Financial Associates Inc. increased its position in Ferrari by 0.5% in the third quarter. Carroll Financial Associates Inc. now owns 7,714 shares of the company’s stock worth $400,000 after buying an additional 35 shares during the period.

5 Day Chart for NASDAQ:RACE

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