Ferrari NV (RACE) Receives New Coverage from Analysts at Societe Generale
Separately, Morgan Stanley increased their price objective on Ferrari NV from $54.00 to $56.00 and gave the stock an overweight rating in a research report on Wednesday, August 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $49.12.
Ferrari NV (NYSE:RACE) traded up 0.55% on Thursday, reaching $52.80. 509,628 shares of the company’s stock were exchanged. Ferrari NV has a 1-year low of $31.66 and a 1-year high of $60.97. The company has a market capitalization of $9.98 billion and a PE ratio of 27.70. The company has a 50 day moving average price of $50.04 and a 200-day moving average price of $44.99.
A number of hedge funds have recently modified their holdings of RACE. Edmond DE Rothschild Italia SGR SPA purchased a new position in Ferrari NV during the first quarter valued at $717,000. Edmond DE Rothschild Holding S.A. raised its position 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 valued at $1,060,000 after buying an additional 21,755 shares in the last quarter. AXA purchased a new position in Ferrari NV during the first quarter valued at $1,125,000. Prudential PLC purchased a new position in Ferrari NV during the first quarter valued at $2,022,000. Finally, Aviva PLC purchased a new position in Ferrari NV during the first quarter valued at $3,745,000. 26.83% of the stock is currently owned by hedge funds and other institutional investors.
About Ferrari NV
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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