Berenberg Bank began coverage on shares of Ferrari (NASDAQ:RACE) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating on the stock.

RACE has been the topic of several other reports. Citigroup Inc. reiterated a “neutral” rating on shares of Ferrari in a research note on Friday, October 21st. Zacks Investment Research downgraded Ferrari from a “buy” rating to a “sell” rating in a report on Wednesday, October 19th. Societe Generale began coverage on Ferrari in a report on Thursday, October 13th. They issued a “sell” rating and a $45.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and issued a $56.00 price objective (up from $54.00) on shares of Ferrari in a report on Wednesday, August 17th. Finally, Evercore ISI raised Ferrari from a “sell” rating to a “hold” rating in a report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $51.67.

Analyst Recommendations for Ferrari (NASDAQ:RACE)

Shares of Ferrari (NASDAQ:RACE) opened at 53.70 on Tuesday. The company has a 50-day moving average of $53.08 and a 200 day moving average of $47.12. Ferrari has a one year low of $31.66 and a one year high of $54.99. The stock has a market cap of $10.15 billion and a price-to-earnings ratio of 27.71.

Ferrari (NASDAQ:RACE) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The company earned $783 million during the quarter, compared to analysts’ expectations of $826.93 million. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts forecast that Ferrari will post $2.19 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Carroll Financial Associates Inc. increased its stake in shares of Ferrari by 0.5% in the third quarter. Carroll Financial Associates Inc. now owns 7,714 shares of the company’s stock valued at $400,000 after buying an additional 35 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Ferrari by 28.1% in the third quarter. Advisor Group Inc. now owns 1,990 shares of the company’s stock valued at $104,000 after buying an additional 436 shares in the last quarter. Raymond James & Associates increased its stake in shares of Ferrari by 6.9% in the second quarter. Raymond James & Associates now owns 7,423 shares of the company’s stock valued at $302,000 after buying an additional 482 shares in the last quarter. US Bancorp DE increased its stake in shares of Ferrari by 23.8% in the third quarter. US Bancorp DE now owns 2,867 shares of the company’s stock valued at $149,000 after buying an additional 551 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Ferrari by 1.5% in the third quarter. BlackRock Group LTD now owns 47,390 shares of the company’s stock valued at $2,458,000 after buying an additional 688 shares in the last quarter.

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5 Day Chart for NASDAQ:RACE

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